Universal Insurance Holdings (NYSE: UVE ) is keeping true to its word in relation to dividend payments. Following the intentions it stated earlier this year, the board has authorized a distribution of $0.08 per share of its stock, to be paid on June 17 to shareholders of record as of June 3.
The board had indicated its aim to dispense that amount in each the remaining quarters of 2013, following its first disbursement of the year. This was handed out in March, and was also $0.08 per share.
The current dividend annualizes to $0.32 per share. That yields 6.2% at Universal Insurance's most recent closing stock price of $5.20.