Consolidated-Tomoka Land (CTO) will raise its quarterly dividend by 14.3 percent to $0.08 per share in the fourth quarter of 2018. This follows a one cent dividend hike in the previous quarter.
The increased dividend is payable on November 30, 2018 to shareholders of record on November 9, 2018. The ex-date for this next dividend of 8 cents per share is November 8. A new annualized dividend level of $0.32 per share yields 0.5% at a stock price of $60.30.
Laura M. Franklin, Chairman of the Board, stated, “The Board is pleased that the operating results at Consolidated-Tomoka Land Co. continue to support our dividend tradition that began in 1976. The Board will continue to review its dividend strategy on a regular basis.”
2022