American Eagle Outfitters (NYSE:AEO) investors are flying higher thanks to the lift of an increased dividend. The company has declared its first quarterly distribution of calendar 2013, which is to be $0.125 per share and will be handed out on July 12 to shareholders of record as of July 1. That amount tops the firm's previous distribution by $0.015, or 14%.
In the press release announcing the move, the company pointed out that the just-declared dividend is its 36th consecutive quarterly payout.
The new distribution annualizes to $0.50 per share. That yields 2.5% at American Eagle Outfitters' most recent closing stock price of $19.76.
Fool contributor Eric Volkman has no position in American Eagle Outfitters. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.