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First Niagara Declares a Pair of Dividends

By Eric Volkman - Apr 23, 2013 at 11:05PM

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Both the company's current and series B preferred stockholders will be rewarded.

First Niagara Financial (NASDAQ: FNFG) will return money to two separate classes of its stockholders. The company has declared quarterly dividends for its common shares and its class B preferreds, both of which will be paid on May 15 to shareholders of record as of May 3.

The common stock payout is to be $0.08 per share, while that for the class B preferred is $0.539063 apiece.

The amount of the former matches the banking group's previous five quarterly distributions, the most recent of which was handed out in February.

The common stock dividend annualizes to $0.32 per share. That yields 3.4% at First Niagara Financial's current market price of $9.37.

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