CYS Investments (NYSE:CYS) has declared its latest quarterly dividend, and its first for 2013. The company will distribute $0.32 per share of its common stock on April 17 to shareholders of record as of March 25. Additionally, it is to pay $0.484375 per share of its series A preferred stock. That disbursement will be handed out on April 15 to holders of record as of April 1.

The common stock dividend is lower than each of the company's 2012 payments, which range from $0.45 per share, to $0.92.

The new dividend annualizes to $1.28 per share. That yields 10.7% at CYS Investments' current stock price of $12.

Fool contributor Eric Volkman has no position in CYS Investments. The Motley Fool has no position in CYS Investments. 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.