Nicholas Financial, Inc. (NICK: Quote) said Wednesday that its Board of Directors has declared a cash dividend of $0.12 per share on its common stock.
This represents a 20% increase from its previous dividend of $0.10 per share.
The dividend will be paid on September 6 to shareholders of record as of August 30.
Peter Vosotas, Chairman and CEO of Nicholas Financial, said, "Our capital position and continued confidence in our earnings capability played a large part in the Board of Director's decision to increase our quarterly cash dividend 20% from $0.10 to $0.12 per share. The dividend yield, based on the most recent closing price of $13.44, will be approximately 4%."
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by RTT Staff Writer
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