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Daily Dividend Roundup: LTD, MCRL, DEI, TCAP, GLDD, FRD

The following dividend-related developments were featured on The Dynamic Dividend today:

Yet Another (Very) Special Dividend from Limited Brands



Limited Brands, Inc. (LTD) declared a special dividend of $1.00 per share this morning. This marks the third time the company has given its shareholders an unexpected bonus payout since the beginning of last year.

In a separate release, the company behind retail brands like Victoria’s Secret and Bath & Body Works also declared a quarterly dividend of $0.20 per share, maintaining the rate established when it gave shareholders a 33% raise earlier this year.

Prior to today’s announcement, Limited Brands had paid shareholders a total of $4 per share via special dividends since the start of 2010. The company distributed $1 per share last March, which was followed by a $3 special dividend in December.

Shares of LTD popped to $40.40 (+2.15%) in pre-market trading, where they feature a 1.98% dividend yield. The special dividend declared today represents 2.48% of Limited’s current share price, so the company is on pace to return 4.46% of its current share price to investors this year — assuming it doesn’t have any more special dividends up its sleeve.

Micrel Boosts Dividend by 14%

Micrel Inc. (MCRL) announced a 14.3% increase to its quarterly dividend today. This is the first time the intergrated circuit company has given its shareholders a raise in three years.

Shares of MCRL closed Tuesday’s session trading at $11.77, where the company’s new quarterly dividend of $0.04 per share produces 1.36% yield.

Micrel initiated a quarterly dividend of $0.03 per share in May 2007 and raised its payout to $0.035 per share four quarters later, but had held its payout flat ever since.

Douglas Emmett's First Post-Cut Dividend Hike

Douglas Emmett, Inc. (DEI) declared a quarterly dividend of $0.13 per share after today’s closing bell, a 30% improvement over the $0.10 paid each of the previous nine quarters by the real estate investment trust.

This is the first time Douglas Emmett has given its shareholders a raise since slashing its quarterly payout nearly in half (from $0.1875 down to $0.10 per share) to preserve liquidity in 2009. With today’s dividend hike, the company has now recovered about 34% of that nasty cut.

Shares of DEI closed Tuesday’s session trading at $21.05, where they now feature a 2.47% dividend yield.

Douglas Emmett owns and operates office and multifamily properties in California and Hawaii.

Triangle Capital Raises Dividend Again

Triangle Capital Corporation (TCAP) declared a quarterly dividend of $0.44 per share after today’s closing bell, a 4.8% increase over its previous two payouts and a 7.3% improvement over the dividend paid during the same period last year by the business development company.

Shares of TCAP closed Tuesday’s session trading at $19.19, where they now feature a 9.17% dividend yield.

This is the tenth time Triangle has given its shareholders a raise since initiating its dividend in 2007. The company has now grown its payout by 193% in a little more than four years.

Great Lakes Dredge & Dock's First Dividend Hike

Great Lakes Dredge & Dock Corporation (GLDD) declared a quarterly dividend of $0.021 per share after today’s closing bell, pushing its payout higher by 24%. This is the first time the largest provider of dredging services in the United States has given its shareholders a raise.

Shares of GLDD closed Tuesday’s session trading at $6.07, where they now feature a 1.38% dividend yield.

Great Lakes initiated a quarterly dividend of $0.017 per share towards the end of 2007, and had held its payout flat until today.

Friedman Industries Pushes Dividend to a New All-Time High

Friedman Industries (FRD) declared a quarterly dividend of $0.13 per share after today’s closing bell, which represents an all-time high for the company with a very inconsistent dividend history.

The new rate is an 18% improvement over the $0.11 per share paid each of the previous two quarters by the steel and pipe company. Friedman has never missed a payout since initiating its dividend in 1992, but it has come very close. The company’s quarterly dividend plunged from an all-time high of $0.12 per share at the beginning of 2009 to as little as $0.01 per share for a three-quarter stretch that ended last year. Today’s move completes a comeback from that drop, and sets a new high-water mark for the company’s payout.

Shares of FRD closed Friday’s session trading at $9.51, where they now feature a 5.47% dividend yield.

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