Coal producer Rhino Resource Partners announced yesterday its third-quarter dividend of $0.445 per share, the same rate it's paid for the past four quarters after cutting the payout 7% from $0.48 per share.
The board of directors said the quarterly dividend is payable on August 14 to the holders of record at the close of business on August 1. The coal miner has made quarterly payouts to investors since 2011.
The regular dividend payment equates to a $1.78-per-share annual dividend, yielding 12.9% based on the closing price today of Rhino Resource Partners' stock.
The article Rhino Resource Keeps Dividend Steady 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.