FAIRLAWN, OHIO (March 30, 11:10 a.m. ET) — Directors of A. Schulman Inc. have raised the company’s quarterly dividend by 2 cents a share, to a new rate of 19 cents.
The Fairlawn-based compounder and distributor said the increased dividend is payable May 1 to stockholders of record April 19.
“In raising the quarterly dividend, we are continuing to deliver on our commitment to create value for our shareholders through potential share appreciation and a prudent return of cash,” Joseph M. Gingo, A. Schulman chairman, president and CEO, said in a statement.
“When combined with our earlier dividend increase announced on Oct. 14, 2011, our quarterly dividend is now 22.6 percent higher than in the same period last year,” Gingo said. “This latest dividend increase reflects our confidence in the ability of our business to generate cash and brings our annual yield to approximately 2.8 percent.”