Retailer Fred's (NASDAQ:FRED) this week declared plans to keep its quarterly dividend at $0.06 per share.

This is the same amount the general merchandise store chain has paid its investors since March 2012, after raising its payout 20% from $0.05 per share. Additionally, Fred's paid shareholders a special dividend of $0.19 per share on top of its quarterly dividend in December 2012.

Fred's most recent dividend will be payable on Sept. 16 to shareholders of record as of Sept. 2. The dividend's annualized amount tallies to $0.24 per share. As of market close on Aug. 20, Fred's had a stock price of $17, which means its current dividend yields 1.4%.

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