Consolidated Communications (NASDAQ:CNSL) is beaming a fresh dividend across the airwaves. The company has declared a quarterly payout of $0.38738 per share of its common stock, to be paid on August 1 to shareholders of record as of July 15. That amount matches the firm's preceding distribution, which was handed out at the beginning of this month.

The company is a habitual dividend payer. It has made shareholder distributions in every quarter dating back to late 2005.

The current disbursement annualizes to just under $1.55 per share. That yields 8.6% at Consolidated Communications' most recent closing stock price of $17.95.

Fool contributor Eric Volkman has no position in Consolidated Communications, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.