Nicholas Financial Raises Dividend By 20%

Nicholas Financial ($NICK) announced that it is raising its quarterly dividend by 20%. The payout is rising from 10 cents per share to 12 cents per share.

Nicholas Financial, Inc. announced today that its Board of Directors has declared a cash dividend of $.12 per share on its common stock. This represents a 20% increase from its previous dividend of $.10 per share. The dividend will be paid on September 6, to shareholders of record as of August 30, 2012.

Peter L. Vosotas, Chairman and CEO noted, “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 $.10 to $.12 per share. The dividend yield, based on the most recent closing price of $13.44, will be approximately 4%.”

Subject to market conditions and profitability targets, the Company anticipates it will continue to declare quarterly cash dividends in the future; however, no assurances can be given. In the fiscal year ended March 31, 2012, the Company reported earnings of $1.85 per share. In the first quarter of the 2013 fiscal year which ended June 30, 2012, the Company reported earnings of $0.44 per share.

The annual dividend of 48 cents per share works out to a yield of 3.57% based on yesterday’s closing price.

Posted by on August 8th, 2012 at 2:53 pm


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