Stolen-vehicle locator-device maker Ituran Location & Control (NASDAQ:ITRN) announced today its second-quarter dividend of $0.17 per share, 21% higher than the $0.14 per share it paid last quarter, when it slashed the payout to investors by 57%.
The board of directors said the quarterly dividend is payable on Oct. 3 to the holders of record at the close of business on Sept. 17. It also said the distribution won't undermine its ability to keep performing as it is or to "meet its undertakings when due."
The regular dividend payment equates to a $0.68-per-share annual dividend, yielding 3.7% based on the closing price today of Ituran's stock.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Ituran. 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.
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