Peabody Energy has decided to keep its quarterly dividend policy steady. The company declared a payout of $0.085 per share of its common stock, to be paid on June 4 to shareholders of record as of May 14. This amount matches each of its previous quarterly distributions stretching back to Nov. 2010. Prior to that, it handed out $0.07 per share.
The new distribution comes in spite of an unprofitable Q1 for Peabody. Revenues were down and the company posted a net loss of $19 million for the period.
The current dividend annualizes to $0.34 per share, which yields 1.7% at Peabody's most recent closing stock price of $20.06.
The article Peabody Energy Declares New Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Peabody Energy, and neither does The Motley Fool. 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.