Lorillard is withdrawing another shareholder payout from its pack. The company has declared its latest quarterly common stock dividend, which is to be $0.55 per share paid on September 10 to shareholders of record as of August 30. That amount matches both of the firm's previous distributions, the most recent of which was paid in June. Both payouts occurred after Lorillard split its stock 3-for-1 this past January.
On a split-adjusted basis, the preceding payout was $0.517. Since September 2008, the company's adjusted disbursement has climbed from $0.307 to the present level.
The just-declared dividend annualizes to $2.20 per share. That yields 5.2% at Lorillard's most recent closing stock price of $42.16.
The article Lorillard Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Lorillard. Nor 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.