Rockwood Holdings (NYSE:ROC) has declared its latest quarterly dividend and its inaugural one for 2013, and it's giving shareholders a raise. The company is to distribute $0.40 per share of its common stock on March 22 to shareholders of record as of March 7. That's 14% higher than Rockwood's previous and only dividends, which were all $0.35, paid in each of the company's previous three quarters.
Rockwood initiated dividend payments in June of last year, following a quarter that beat analyst expectations.
The new dividend annualizes to $1.60 per share, for a yield of 2.7% at Rockwood's current stock price of $58.85.
Fool contributor Eric Volkman has no position in Rockwood Holdings. The Motley Fool owns shares of Rockwood Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.