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Ebix (NASDAQ: EBIX ) has announced a sharp increase in its quarterly dividend. The company will pay $0.075 per share on February 28 to stockholders of record as of February 15. The new payout is a 50% lift from the $0.05 Ebix had paid in the last three quarters. Prior to that, the company disbursed $0.04 per share.
At an annualized rate, the new payout represents a yield of 1.8% on Ebix' current stock price.
In spite of high margins on growing profitability, the company's shares trade near their one-year low at the moment. This may be at least partially due to the news disclosed last autumn that it was under investigation by the SEC over its accounting practices.