Lufkin Industries Maintains Steady Dividend Payout
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.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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