Fifth Third Raises Dividend 9%
Diversified financial services provider Fifth Third Bancorp announced yesterday its second-quarter dividend of $0.12 per share, a 9% increase over the payout made to investors last quarter of $0.11 per share.
It had raised the dividend 10% last quarter from $0.10 per share. The board of directors anticipates keeping the dividend steady at $0.12 per share until the first quarter of 2014. The board of directors said the quarterly dividend is payable on July 18 to the holders of record at the close of business on June 28. The banking concern has made quarterly payouts to investors since 1980. It's also split its stock 10 times in that time period, the last one being a 3-for-2 split in 2000.
The regular dividend payment equates to a $0.48-per-share annual dividend, yielding 2.6% based on the closing price of Fifth Third Bancorp's stock on June 18.
The article Fifth Third Raises Dividend 9% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Fifth Third Bancorp. 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.
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