For the fourth consecutive fiscal year, the Solera Holdings' board of directors has voted to raise its quarterly dividend, effective Q1 of fiscal 2014, the company announced today. The auto insurance claims software and services provider's fiscal 2014 began July 1.
The jump in Solera's annual dividend, from fiscal 2013's $0.50 a share to $0.68 this year, represents a 36% increase year-over-year and equates to a 1.2% yield at Solera's closing price Aug. 1.
Founder, chairman, and CEO Tony Aquila commented, "This action reflects the confidence we have in the long-term growth of our business and our ability to generate strong cash flow for reinvesting while returning cash to stockholders."
The article Solera Holdings Raises Dividend 36% originally appeared on Fool.com.Fool contributor Tim Brugger 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.