Notable Dividend News: DPS, SPTN, NSU, TIE, PRI
Dr. Pepper Snapple Pushes Yield Over 3%, Dr. Pepper Snapple Group, Inc. (DPS) declared a quarterly dividend of $0.32 per share after today’s closing bell, which represents a 28% improvement over its previous four payouts. Shares of DPS closed Wednesday’s session trading at $41.64, where they now feature a 3.07% dividend yield.
The beverage giant initiated its quarterly dividend in 2009 — shortly after being spun-off from Cadbury — and has already more than doubled it. The company gave shareholders a 67% raise in 2010
Spartan Stores Boosts Dividend by 30%Spartan Stores, Inc. (SPTN) declared a quarterly dividend of $0.065 today, pushing its payout higher by 30%. This is the first time the grocery distributor has given its shareholders a raise since initiating its payout in 2006.
The company’s board also announced a five year share repurchase program with a $50 million authorization.
Shares of SPTN are currently trading at $16.33 where they now feature a 1.59% dividend yield
Nevsun Initiates Semi-Annual DividendNevsun Resources (NSU) declared a semiannual dividend of $0.03 per share this morning, the gold and base metal developer’s first.
Shares of NSU closed Tuesday’s session trading at $5.34, where they now feature a shiny new 1.12% dividend yield
TIMET Reinstates Quarterly DividendTitanium Metals Corporation (TIE), better known as TIMET, declared a quarterly dividend of $0.075 per share after today’s closing bell. This will be the first payout from the producer of titanium metal products since halting its dividend at the beginning of 2009. The quarterly rate matches the one paid by the company prior to suspending its dividend. Analysts currently expect TIMET to earn $0.96 in 2012, giving it a 31.3% forward payout ratio to begin its latest dividend-paying era.
Shares of TIE closed Tuesday’s session trading at $19.12, where they now feature a 1.57% dividend yield.
Primerica Triples Quarterly Dividend
Primerica, Inc. (PRI) declared a quarterly dividend of $0.03 per share after today’s closing bell, tripling its first three payouts. The financial services firm went public in April 2010 after being divested by Citigroup (C).
Shares of PRI closed Tuesday’s session trading at $21.36, where they now feature a 0.56% dividend yield.