Female Health (NASDAQ:VERU) will lift its quarterly dividend and ramp up its share-buyback efforts. The contraceptive maker will distribute a dividend of $0.07 per share of its stock on May 8 to shareholders of record as of May 1. This represents a raise of 17% from the previous disbursement of $0.06, which the company has paid in each of the past four quarters. Before that, it handed out $0.05 per share.
The new dividend constitutes Female Health's 14 quarterly distribution in a row. The $0.07 payout annualizes to $0.28 per share. That yields just under 4% at the firm's current stock price of $7.05.
The company also said it will "increase activity" in its stock-buyback program. It currently has authorization to buy up to 3 million shares and has so far repurchased roughly two-thirds of this amount, leaving 1 million available under the authorization. The program expires at the end of this calendar year.