MB Financial Boosts Dividend to $0.12
MB Financial this week announced plans to up its quarterly dividend 20%, from $0.10 to $0.12 per share.
This marks the first time the company has raised its payout since late 2012, when it increased it from $0.01. In 2009, the company had cut its dividend 92% due to a $28.1 million loss in net income. This was brought on in part, according to a 2009 statement from the company, by the "weak state of economy ." MB Financial's latest increase is the first time since May 2009 that the company has paid a dividend over $0.10 per share.
The dividend will be payable on Sept. 30 to shareholders of record as of Sept. 13. Annualized, MB Financial's payout comes to $0.48. As of the market's close on Aug. 29, the company's stock was trading at $27.43, which means its dividend currently yields 1.7%.
The article MB Financial Boosts Dividend to $0.12 originally appeared on Fool.com.Fool contributor Caroline Bennett 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.
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