Universal Insurance Holdings (NYSE:UVE) is keeping true to its word in relation to dividend payments. Following the intentions it stated earlier this year, the board has authorized a distribution of $0.08 per share of its stock, to be paid on June 17 to shareholders of record as of June 3.

The board had indicated its aim to dispense that amount in each the remaining quarters of 2013, following its first disbursement of the year. This was handed out in March, and was also $0.08 per share.

The current dividend annualizes to $0.32 per share. That yields 6.2% at Universal Insurance's most recent closing stock price of $5.20.

Fool contributor Eric Volkman has no position in Universal Insurance Holdings. The Motley Fool has no position in Universal Insurance Holdings. 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.