New York, NY — For the fifth year in a row, Alimentation Couche-Tard Inc (TSE:ATD.B) has elected to hike its dividend to shareholders.
On Monday, the company declared a payout of $0.0775 per share, to be paid on August 4 to stockholders of record as of July 21. That amount is $0.01, or 15%, higher than the previous distribution of $0.0675 paid in last quarter. (Source: “Alimentation Couche-Tard Announces Its Results for Its Fourth Quarter and Fiscal Year 2016,” Alimentation Couche-Tard Investor Relations, July 11, 2016.)
According to the company’s press release, the payment will represent Alimentation’s 28th consecutive quarterly dividend. With the modest payout hike, the stock’s distribution will increase to $0.31 per share annually, which represents a yield of 0.5% based on Alimentation’s most recent closing stock price of $56.43.