FirstEnergy (NYSE:FE) is keeping the dividend juice flowing. The company has declared a fresh common stock distribution of $0.55 per share, to be paid on September 1 to shareholders of record as of Aug. 7. That amount is in line with all of the firm's regular payouts stretching back to March 2008. Before that, FirstEnergy handed out $0.50 per share.
Typically for a utility, the company is a very steady dividend payer, although it rarely lifts its distribution. Over the past 10 years, its payout has ranged from $0.375 to the present level.
The just-declared dividend annualizes to $2.20 per share. That yields 5.7% at FirstEnergy's most recent closing stock price of $38.33.
Fool contributor Eric Volkman has no position in FirstEnergy. 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.