For the first time in nearly 10 years, General Cable (NYSE: BGC ) will reward its stockholders with a quarterly dividend. The company has declared a distribution of $0.18 per share of its common stock, to be handed out on June 28 to shareholders of record as of June 10.
The company last declared a dividend in August 2002. That payout was $0.05 per share.
The new dividend annualizes to $0.72 per share. That yields 2.1% at General Cable's current stock price of $34.00.
The company also announced an extension of its $125 million stock repurchase program launched last October. It was originally slated to expire after one year but will now run until the end of 2013.