Unlike the ammunition shortage gripping the nation, there's no shortage of profits at ATK (NYSE: ATK ) preventing it from paying its regular quarterly dividend of $0.26 per share. The munitions manufacturer said this week that the payout will be made on June 27 to the holders of record at the close of business on June 3.
ATK has paid a dividend every quarter since February 2011 when it initiated a payout at a rate of $0.20 per share. It raised the dividend 30% last November when it increased the payout to its current level.
ATK is an aerospace, defense, and commercial products company with operations in 21 states, Puerto Rico, and internationally. It sells ammunition to sportsmen and law enforcement agencies alike as well as to the military.
The most recent dividend payment equates to a $1.04-per-share annual dividend yielding 1.4% based on the closing price of ATK's stock on May 1.