NN Reinstates Dividend

NN is back in the dividend saddle. The company has brought back its distributions, relaunching them with a $0.06 per share payout, to be paid on July 9 to shareholders of record as of June 25.

The company indicated that this will become a habit. In the press release announcing the news, NN quoted CEO Rich Holder as saying that "subject to declaration by the Board of Directors, we plan to continue to pay quarterly dividends at a rate that provides a meaningful return to our shareholders."

The company had suspended its distributions in late 2008.

The reinstated dividend annualizes to $0.24 per share. That yields 2.5% at NN's current stock price of $9.50.

The article NN Reinstates Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in NN. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.