Following yesterday's release of Q2 results that showed robust growth in profitability, Archer Daniels Midland has announced an increase in its quarterly dividend. The company is to pay $0.19 per share of its common stock, a nearly 9% rise over the former level. The disbursement will be made on March 13 to shareholders of record as of Feb. 20.
ADM is a serial dividend payer. In the news release announcing the latest payment, the company pointed out that it has now paid 325 consecutive quarterly dividends over a stretch of 81 years.
At an annualized rate of $0.76 per share, the new dividend yields 2.5%.
The article ADM Announces Dividend Boost originally appeared on Fool.com.
Fool contributor Eric Volkman and The Motley Fool have no position in Archer Daniels Midland. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.