Resource Capital (NYSE:XAN)is dipping into its coffers for another shareholder payout. The company has declared a dividend for its current quarter of $0.20 per share, which is to be paid on July 26 to shareholders of record as of June 28. That amount matches each of the company's previous five distributions, the most recent of which was paid in late April. Before that, Resource Capital was more generous, dispensing $0.25 per share.
The company's payout has fallen by more than 50% since July 2008, when it handed out $0.41 per share.
The just-declared dividend annualizes to $0.80 per share. That yields 12.6% at Resource Capital's most recent closing stock price of $6.33.
Fool contributor Eric Volkman has no position in Resource Capital. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.