DuPont Fabros Technology Increases Dividend 25%
Investors might find it fabulous that DuPont Fabros Technology has increased its second-quarter dividend, the third time in two years the payout has been increased.
At the same time as its first-quarter earnings report, the data center operator announced today that it had increased its distribution to shareholders to $0.25 per share, representing a 25% increase from the company's first-quarter payout of $0.20 per share.
DuPont Fabros CEO Hossein Fateh said: "Our refinancing activity in the quarter reduced our overall cost of capital and improved our debt maturity schedule. This focused activity and confidence in leasing supports our board's decision to increase our common stock dividend by 25%."
The new payout annualizes to $1.00 per share and yields 3.9% based on the closing price of DuPont Fabros Technology's stock on May 6.
The article DuPont Fabros Technology Increases Dividend 25% 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.