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.
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