SPX (NYSE:SPW) is preparing to hand out the same quarterly dividend it's paid for nearly a decade. The company has declared a common stock distribution of $0.25 per share, to be dispensed on October 2 to shareholders of record as of September 16. The company has handed out that amount every quarter since it first declared a dividend in March 2004.
That payout annualizes to an even $1.00 per share, yielding 1.3% at SPX's current stock price of $75.44.
The announcement comes several weeks after the company released its Q2 results. For the quarter, it posted revenue of $1.22 billion, which was slightly under analyst expectations. However, its non-GAAP EPS of $1.10 far exceeded the average projection of $0.67.
Fool contributor Eric Volkman has no position in SPX, 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.