Financial services specialist CNO Financial announced yesterday that, along with re-electing its board members, ratifying its public accountants, and approving a non-binding say-on-pay proposal, shareholders also got a dividend increase for their efforts.
The board of directors said the new quarterly dividend is payable on June 24 to the holders of record at the close of business on June 10, and represents a 50% increase from the $0.02 per share it was paying previously. CNO only initiated its dividend policy in May of 2012.
CNO Financial CEO Ed Bonach said: "Increasing the dividend demonstrates continued confidence in our current and future financial strength."
The regular dividend payment equates to a $0.12-per-share annual dividend yielding 1% based on the closing price of CNO Financial's stock on May 8.
The article CNO Financial Raises Dividend to $0.03 originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.
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