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MSC Industrial Direct Declares its First Dividend of 2013

Saturday - 4/6/2013, 3:48am  ET

MSC Industrial Direct is set to hand out its latest quarterly dividend. As in the company's previous two quarters, it will distribute $0.30 per share of its stock on April 30 to shareholders of record as of March 16.

Prior to the firm's first $0.30 payout last November, the company distributed $0.25 per share.

MSC tends to pay dividends every quarter, and since 2010, it has raised them once per year. Over that time, those payouts have risen from $0.20 to the current level.   The company also dispensed a special dividend of $1.00 in late 2010.

The new payout annualizes to $1.20 per share, yielding 1.4% at MSC's current stock price of $82.83.

This article was originally published as MSC Industrial Direct Declares its First Dividend of 2013on Fool.com

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