Prudential: Insurance Dividend Increases Keep on Coming

If you been following the blog recently, you've probably noticed more than a few posts about dividend increases in the insurance sector. Dow component Travelers (TRV) got the ball rolling a couple of weeks ago in terms of the big insurers, but the dividend hikes have been coming from insurance firms of all sizes. The latest contributor to this trend is Prudential Financial (PRU), the second-largest U.S. life insurance firm.

Prudential recently reported its third consecutive quarterly profit and the company boosted its annual dividend by 21% to 70 cents a share from 58 cents. This is good news for current Prudential shareholders and potential buyers of the stock as well because Prudential slashed its payout by 50% in 2008 amid the credit crisis.

While the recent increase doesn't make up for last year's cut, it is a step in right direction. The new dividend is payable on December 18 to shareholders of record on November 24.

Comments

[YoYoMama:]

Yield?

Nov 13 09:17 AM