OfficeMax Keeps Dividend Steady
Office supplies retailer OfficeMaxannounced yesterday its third-quarter dividend of $0.02 per share, the same rate it's paid for the past four quarters after slashing the payout 87% from $0.15 per share.
The board of directors said the quarterly dividend is payable on Aug. 30 to the holders of record at the close of business on Aug. 15. The office supplies retailer paid a special dividend of $1.50 per share last month. It is in the midst of being acquired by Office Depot for $1.2 billion.
The regular dividend payment equates to an $0.08-per-share annual dividend, yielding 0.7% based on the closing price of OfficeMax's stock on July 25.
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