CryoLife (NYSE:CRY) is putting some zip into its shares with a dividend boost. The company has declared a fresh quarterly distribution of $0.0275 per share, to be paid on June 21 to shareholders of record as of June 14. This marks the company's first-ever dividend increase -- the new amount is 10% higher than its three prior (and only) payouts, each of which totaled $0.025.
The firm plans to continue paying dividends, handing them out in March, June, September, and December of each year. It aims to pay an annual distribution of around $3 million.
The new dividend annualizes to $0.11 per share. That yields1.7% at CryoLife's most recent closing stock price of $6.40.
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