Reynolds American Makes It 37 in a Row
Tobacco giant Reynolds American announced yesterday its third-quarter dividend of $0.63 per share, the same rate it paid for last quarter after raising the payout 7%, from $0.59 per share.
The board of directors said the quarterly dividend is payable on Oct. 1 to the holders of record at the close of business on Sept. 10. The cigarette maker has made 37 consecutive dividend payments since going public in 2004. Its policy is to return about 80% of the company's current-year net income to shareholders in the form of dividends.
The regular dividend payment equates to a $2.52-per-share annual dividend, yielding 4.9% based on the closing price of Reynolds American stock on July 11.
RAI Dividend data by YCharts
The article Reynolds American Makes It 37 in a Row 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.