KBR (NYSE: KBR ) has increased its quarterly dividend by 60%, the company announced in a press release. The new payout totals $0.08 and will be paid next April 15 to shareholders of record as of March 15.
The press release quoted CEO Bill Utt as saying that the dividend boost "reflects our continued confidence in the company's ability to generate strong cash flow in the future and the company's commitment to efficiently return cash to shareholders."
KBR's previous quarterly dividend was $0.05, which had been in place for several years. The new payout represents an annual yield of just over 1% based on the stock's most recent closing price.