Alcoa (NYSE:AA) seems determined to maintain its position as one of the steadier dividend payers on the market. The company has declared its latest quarterly common stock distribution, which is to be $0.03 per share, paid on August 26 to shareholders of record as of August 9. That amount matches each of the firm's previous distributions stretching back to May 2009, the most recent of which was paid in late May of this year. Prior to that, Alcoa was much more generous, handing out $0.17 per share.

The firm also declared a dividend of $0.9375 per share on its $3.75 cumulative preferred stock. This will be dispensed on October 1 to holders of record as of September 13.

The just-declared common stock distribution annualizes to $0.12 per share. That yields 1.5% at Alcoa's most recent closing stock price of $8.07.

Fool contributor Eric Volkman has no position in Alcoa. 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.