Discount retailer Fred's (NASDAQ:FRED) announced yesterday its second-quarter dividend of $0.06 per share, the same rate it paid last quarter after raising the payout 20% from $0.25 per share.

The board of directors said the quarterly dividend is payable on June 17 to the holders of record at the close of business on June 3. Fred's paid a special dividend of $0.19 per share in December 2012. It has paid a regular quarterly dividend since at least 1993.

The regular dividend payment equates to a $0.24-per-share annual dividend yielding 1.6% based on the closing price of Fred's stock on May 21.

FRED Dividend Chart

FRED Dividend data by YCharts. Chart reflects special dividend paid in December 2012.