Life Partners Slashes Dividend in Half
Life settlement specialist Life Partners announced this morning its second-quarter dividend of $0.05 per share, half the rate it paid last quarter.
The board of directors said the quarterly dividend is payable on June 15 to the holders of record at the close of business on June 14. Life Partners has made a payout to investors since 2002, but has warned that as the life settlement industry declines, a process that began with the recent global financial crisis, it may have to cut dividends further. Life settlements are the secondary market for life insurance.
The regular dividend payment equates to a $0.20-per-share annual dividend, yielding 5.2% based on the closing price of Life Partners Holdings' stock on June 3.
The article Life Partners Slashes Dividend in Half 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.