Questcor Hikes Dividend 20%
Biopharmaceutical Questcor Pharmaceuticalsannounced today its third-quarter dividend of $0.30 per share, a 20% increase in the payout made to investors last quarter of $0.25 per share.
Noting that the company's strong financial performance has allowed the biopharmaceutical to raise the dividend twice this year, Questcor President and CEO Don M. Bailey said, "We remain committed to using our strong cash flow to invest in our business, including significant investments in R&D, while returning cash to shareholders. To date we have maintained a payout ratio -- dividends paid per share divided by earnings per share -- of approximately 20%."
The board of directors said the quarterly dividend is payable on October 30 to holders of record at the close of business on October 22. The regular dividend payment equates to a $1.20-per-share annual dividend, yielding 2% based on the closing price today of Questcor Pharmaceuticals' stock.
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