Allegheny Technologies (NYSE:ATI) isn't yet veering from its dividend policy of the past few years. The company has declared a new distribution of $0.18 per share of its common stock, to be handed out on June 19 to shareholders of record as of May 22. That amount matches each of the company's preceding quarterly payouts stretching back to December 2007. Prior to that, Allegheny Tech paid $0.13.
The news of the latest distribution comes slightly over a week after the firm announced Q1 results revealing a year-over-year increase in sales, but a drop in net income.
The current dividend annualizes to $0.72 per share, which yields 2.7% at Allegheny Tech's most recent closing stock price of $26.19.
Fool contributor Eric Volkman has no position in Allegheny Technologies. Nor does The Motley Fool. 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.