MeadWestvaco (NYSE:WRK) is continuing to deliver payouts for its shareholders. The company has declared a fresh quarterly dividend of $0.25 per share, to be handed out on September 3 to shareholders of record as of August 31. That amount matches each of the company's regular quarterly payouts stretching back to late 2010. Prior to that, it paid $0.23 per share.
The firm is a steady and reliable dividend payer, although its policy is very conservative. Since launching dividends in 2002, it has only raised its payout once.
The just-declared dividend annualizes to an even $1.00 per share. That yields just under 3% at MeadWestvaco's current stock price of $33.67.
Fool contributor Eric Volkman has no position in MeadWestvaco. Nor 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.