CST Brands Initiates Quarterly Dividend

Motor fuel retailer was spun off from Valero on May 1.

By Rich Duprey – Sep 13, 2013 at 1:51PM EST

Motor fuel and convenience gear retailer CST Brands (CST +0.00%) announced yesterday it would pay its first quarterly dividend to investors in the amount of $0.0625 per share. The board of directors said the quarterly dividend is payable on Oct. 15 to the holders of record at the close of business on Sept. 30.

Noting that the company's financial position has improved since it was spun off from Valero, CST Chairman and CEO Kim Bowers said, "This dividend is a reflection of the great cash flow generated by our business along with CST's strong balance sheet" since the separation.

The regular dividend payment equates to a $0.25-per-share annual dividend, yielding 0.8% based on the closing price yesterday of CST Brands' stock.

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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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CST Brands Initiates Quarterly Dividend

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