Life Partners Slashes Dividend in Half
Life settlement specialist Life Partners announced this morning its second-quarter dividend of $0.05 per share, half the rate it paid last quarter.
The board of directors said the quarterly dividend is payable on June 15 to the holders of record at the close of business on June 14. Life Partners has made a payout to investors since 2002, but has warned that as the life settlement industry declines, a process that began with the recent global financial crisis, it may have to cut dividends further. Life settlements are the secondary market for life insurance.
The regular dividend payment equates to a $0.20-per-share annual dividend, yielding 5.2% based on the closing price of Life Partners Holdings' stock on June 3.
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