SPX (SPW 4.58%) is preparing to hand out the same quarterly dividend it's paid for nearly a decade. The company has declared a common stock distribution of $0.25 per share, to be dispensed on October 2 to shareholders of record as of September 16. The company has handed out that amount every quarter since it first declared a dividend in March 2004.
That payout annualizes to an even $1.00 per share, yielding 1.3% at SPX's current stock price of $75.44.
The announcement comes several weeks after the company released its Q2 results. For the quarter, it posted revenue of $1.22 billion, which was slightly under analyst expectations. However, its non-GAAP EPS of $1.10 far exceeded the average projection of $0.67.
