If consistency is what you want, then the announcement by Lufkin Industries that it will pay a quarterly cash dividend of $0.125 per share on June 10 to shareholders of record at the close of business on June 3, is what you want. The oilfield industry services provider has paid that rate consistently every quarter for the last five years. It has paid a quarterly dividend every year since 1990.
The new dividend annualizes to $0.50 per share, and yields 0.6% at the closing price of Lufkin Industries' stock on May 2.
The article Lufkin Industries Maintains Steady Dividend Payout originally appeared on Fool.com.
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