McGraw Hill Financial hikes dividend for 43rd consecutive year
The quarterly dividend will be increased to $0.36 per share, marking 43 years of consecutive dividend increases.
From today's press release:
"Our continued profitable growth, strong balance sheet and the confidence we have in our company allow us to increase our dividend while maintaining a strong capital position. This action demonstrates our commitment to creating value for our investors," said Douglas L. Peterson, President and CEO of McGraw Hill Financial.
The Company has paid a dividend each year since 1937 and is one of fewer than 25 companies in the S&P 500 that has increased its dividend annually for at least the last 43 years.
The quarterly dividend will increase from $0.33 to $0.36 per share. The dividend will be payable on March 10, 2016, to shareholders of record on February 25, 2016. The new annualized dividend rate of $1.44 per share represents an average compound annual dividend growth rate of 9.5% since 1974.
Based on the current stock price of $83.67 the indicated dividend yield for McGraw Hill Financial is 1.7%.