Alcoa (NYSE:AA) is opening its coffers to return some money to shareholders. The company declared quarterly dividends for both its common stock and its $3.75 cumulative preferred stock. For the former, Alcoa will distribute $0.03 per share on May 27 to shareholders of record as of May 13. For the latter, $0.9375 will be handed out, and the dates will be July 1 and June 14, respectively.

The common stock payout matches each of the company's previous quarterly disbursements stretching back to May 2009. Prior to that, it paid nearly five times as much -- $0.17 per share.

The current dividend annualizes to $0.12 per share, which yields 1.4% at Alcoa's current stock price of $8.62.