Specialty finance company CYS Investments (NYSE:CYS) has announced plans to keep its quarterly dividend steady at $0.34 per share. The company has paid investors this amount since  July, after raising its payout 6.2% from $0.32.

Additionally, CYS also plans to pay investors two types of preferred stock dividend payouts. Series A Preferred Stock holders will receive a dividend of $0.484375 per share, while Series B will pay out $0.390625. Both types of preferred stock dividends will be payable Oct. 15 for shareholders of record as of Oct. 1.

The company's latest dividend will be payable on Oct. 16 to shareholders of record as of Sept. 24. On an annualized basis, CYS's dividend tallies to $1.36 per share of common stock. As of the market's close on Friday, Sept. 6, the company's stock price was $7.65, which makes its current dividend yield 17.8%.



Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.