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.