OfficeMax Keeps Dividend Steady
Office supplies retailer OfficeMax announced yesterday its third-quarter dividend of $0.02 per share, the same rate it's paid for the past four quarters after slashing the payout 87% from $0.15 per share.
The board of directors said the quarterly dividend is payable on Aug. 30 to the holders of record at the close of business on Aug. 15. The office supplies retailer paid a special dividend of $1.50 per share last month. It is in the midst of being acquired by Office Depot for $1.2 billion.
The regular dividend payment equates to an $0.08-per-share annual dividend, yielding 0.7% based on the closing price of OfficeMax's stock on July 25.
The article OfficeMax Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.
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