Laundry room operator Mac-Gray announced this morning its second-quarter dividend of $0.0875 per share, the same rate it paid last quarter after raising the payout 45%, from $0.0605 per share.
The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 17. Mac-Gray has paid dividends since 2010 and has raised the payout every year since initiating it.
The regular dividend payment equates to a $0.35-per-share annual dividend, yielding 2.6% based on the closing price of Mac-Gray's stock on May 24.
The article Mac-Gray Keeps Dividend Steady originally appeared on Fool.com.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Mac-Gray. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.