Protective Life Raises Dividend 11%
Financial products provider Protective Life announced yesterday its second-quarter dividend of $0.20 per share, an 11% increase over the $0.18 per share it paid for the past year.
The board of directors said the quarterly dividend is payable on June 10 to the holders of record at the close of business on May 24. The insurance company has made quarterly dividends since 2000, though it cut its payout in half in 2009.
The new dividend payment equates to an $0.80-per-share annual dividend yielding 2.1% based on the closing price of Protective Life's stock on May 13.
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