Morningstar (MORN) will raise its quarterly dividend by 8.7 percent to $0.25 per share in the first quarter of 2018. This follows a 4.5 percent dividend hike last year.
The increased dividend is payable January 31, 2018, to shareholders of record as of January 5, 2018.The new dividend yield for MORN is 1.1 %.
"Given the momentum in our business, our strong balance sheet, and healthy cash flow, an increased dividend and greater capacity under a new share repurchase program are the appropriate steps in continuing to grow shareholder value," said Kunal Kapoor, chief executive officer of Morningstar.
Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia, and Asia. The company offers products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar has been publicly traded since May 2005.