Globe Specialty Metals Incrementally Lifts Dividend

Globe Specialty Metals (NASDAQ: GSM  ) is adding a few fractions of a cent to its dividend payout. The company has declared its latest distribution, which is to be $0.06875 per share, paid on Sept. 24 to shareholders of record as of Sept. 10. That amount is $0.00625, or 10%, higher than the company's preceding disbursement of $0.0625 handed out at the end of June.

The announcement of the new dividend comes two days after the company unveiled its Q4 and 2013 results. For the former period, net sales came in at $181 million, and the bottom line was a profit of $9.7 million ($0.13 per diluted share). For the fiscal year, it posted net sales of $758 million and a net loss of $21 million ($0.28).

The new dividend annualizes to $0.275 per share. That yields 2.1% at Globe Specialty Metals' most recent closing stock price of $13.00.


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