Emcor Group Inc. (EME) announced that its board has approved a 20% increase in the company's regular quarterly cash dividend to $0.06 per common share, up from $0.05 per common share.
The new indicated annual dividend is $0.24 per common share, up from $0.20 per common share. The Board of Directors has also declared a special cash dividend of $0.25 per common share.
Both the $0.06 per common share regular quarterly dividend and the $0.25 per common share special dividend will be paid on December 28, 2012 to stockholders of record as of December 18, 2012.
The $0.06 per common share regular quarterly dividend accelerates and replaces the regular quarterly dividend that would have been paid in January 2013. The regular quarterly dividend and the special dividend will be paid together, resulting in an aggregate payment of $0.31 per common share.
The company noted that the acceleration of the January dividend payable date to December 2012 is applicable to this year only. The next regular quarterly dividend of $0.06 per common share is expected to be declared and paid in April 2013.
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