LEXINGTON, Ky. (April 26, 2012) — Lexmark International Inc. (NYSE: LXK) has increased its quarterly dividend per shares of Lexmark Class A Common Stock to 30 cents per share (or $1.20 per share on an annual basis) from the previous 25 cents per share (or $1 per share on an annual basis).
The company announced the 20 percent increase at its annual meeting of stockholders.
“Over the past few years, we have exited the consumer printing business, consolidated our operations and focused our resources squarely on the business customer,” said Paul Rooke, Lexmark chairman and chief executive officer. “Given our confidence in the strategy, our strong liquidity position and history of cash generation, we are confident in our continued ability to generate strong cash flow and execute our capital return framework while continuing strategic acquisitions”
The new quarterly dividend of $0.30 per share will be paid on June 15 to shareholders of record as of the close of business on June 1. The new quarterly dividend equates to a yield of approximately 4 percent based on the company’s stock price as of yesterday’s close of trading.
The company also announced that each of the five directors up for election, and the advisory vote on executive compensation, were approved by shareholders by more than 93 percent of cast votes.
Future declarations of dividends are subject to board of director approval and may be adjusted as business needs or market conditions change.