Alcoa is opening its coffers to return some money to shareholders. The company declared quarterly dividends for both its common stock and its $3.75 cumulative preferred stock. For the former, Alcoa will distribute $0.03 per share on May 27 to shareholders of record as of May 13. For the latter, $0.9375 will be handed out, and the dates will be July 1 and June 14, respectively.
The common stock payout matches each of the company's previous quarterly disbursements stretching back to May 2009. Prior to that, it paid nearly five times as much -- $0.17 per share.
The current dividend annualizes to $0.12 per share, which yields 1.4% at Alcoa's current stock price of $8.62.
The article Alcoa Declares a Pair of Dividends originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Alcoa, 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.