On the back of a very encouraging quarter, Cooper Tire & Rubber (NYSE:CTB) plans to continue its long-standing tradition of sharing the wealth with its shareholders. The company has declared a quarterly dividend of $0.105 per share of its common stock, to be paid on June 28 to shareholders of record as of June 3. This amount is in line with Cooper Tire's previous distributions -- it's handed out the same payment in every quarter for more than a decade.

In the press release announcing the latest payout, the company took pains to mention that it is the 165th consecutive quarterly distribution.

The dividend annualizes to $0.42 per share, which yields 1.8% at Cooper Tire's most recent closing stock price of $23.99.

Fool contributor Eric Volkman and The Motley Fool have no position in Cooper Tire & Rubber. 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.