Xerox Raises Common Stock Dividend by 35%

Xerox has declared its first quarterly dividend for 2013, with plans to raise the payout by 35%. The company is to pay $0.0575 per share of its common stock on April 30 to shareholders of record as of March 28. The previous disbursement in December was $0.0425. Xerox had kept the payout at that level since late 2007.

The new dividend annualizes to $0.23, for a 2.9% yield on the company's current share price of $7.85.

Xerox also declared a dividend of $20 per share on its Series A convertible perpetual preferred stock. That payout will be distributed on April 1 to holders of record as of March 15.

The article Xerox Raises Common Stock Dividend by 35% originally appeared on Fool.com.

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