One of the oldest mutual fund companies in the country, Waddell & Reed Financial announced today its third-quarter dividend of $0.28 per share, the same rate it's paid for the past three quarters after raising the payout 12%, from $0.25 per share.
The board of directors said the quarterly dividend is payable on Nov. 1 to the holders of record at the close of business on Oct. 11. The regular dividend payment equates to a $1.12-per-share annual dividend, yielding 2.1%, based on the closing price today of Waddell & Reed Financial's stock.
The article Waddell & Reed 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.