JBT Raises Dividend 29%
May 17th 2013 1:17PM
Updated May 17th 2013 2:50PM
Food processing and air transport tech specialist John Bean Technologies announced yesterday its second-quarter dividend of $0.09 per share, a 29% increase over the $0.07-per-share payout it made last quarter.
The board of directors said the quarterly dividend is payable on June 11 to the holders of record at the close of business on May 28. The dividend increase marks the first hike by JBT since being spun off from FMC Technologies in 2008. Since becoming an independent public company in mid-2008, JBT Corp. has generated approximately $250 million of cash flow from operating activities and has returned more than $40 million to shareholders through dividends and share repurchases.
The regular dividend payment equates to a $0.36-per-share annual dividend yielding 1.7% based on the closing price of JBT's stock on May 16.
The article JBT Raises Dividend 29% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of John Bean Technologies. 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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