Timken Keeps Dividend Steady
The corporate structure of Timken might soon be undergoing a radical change in the form of spinning off the company's steel business, but its dividend remains steady as steel.
The company on Tuesday announced a quarterly payout of $0.23 per share of its common stock, which is to be distributed on June 4 to shareholders of record as of May 17. This matches each of the company's five preceding disbursements, the most recent of which was handed out in March.
The new payout will be the 364th consecutive distribution since the company's IPO in 1922.
The current dividend annualizes to $0.92 per share. That yields 1.6% at Timken's latest closing stock price of $56.24.
The article Timken Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Timken. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.