Investors in American Vanguard (NYSE:AVD) will be receiving dividends twice as frequently as in the past. The company announced Monday that is has launched quarterly distributions with a $0.05-per-share payout, to be paid July 19 to shareholders of record as of July 5.
Previously, the company paid its disbursements on a semi-annual basis. The last such payment was $0.07 per share, handed out in April. A $0.10-per-share special dividend was distributed in December.
"This new quarterly payment approach will allow our shareholders to realize more immediate benefits from the continuing expansion and financial success of our Company," said CEO Eric Wintemute in a statement.
The new quarterly dividend annualizes to $0.20 per share. That yields 0.7% at American Vanguard's most recent closing stock price of $30.61.