The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 17.
Arbitron is in the process of merging with Nielsen Holdings. If the transaction is completed before June 17, the dividend will be pro-rated at a rate of $0.001063829787234 per share per day for each day after March 15, the record date for its previous dividend.
The merger agreement ensures that, regardless of when the deal is consummated, stockholders will receive a dividend at the current rate. The pro rata dividend will be payable within 30 days after the merger closes to shareholders of record at the close of business on the day before the merger is completed.
The regular dividend payment equates to a $0.40-per-share annual dividend, yielding 0.9% based on the closing price of Arbitron's stock on May 22.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.