Reynolds American (RAI) Declares $0.46 Quarterly Dividend; Director Wajnert to Retire
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Reynolds American (NYSE: RAI) declared a quarterly dividend of $0.46 per share, or $1.84 annualized.
The dividend will be payable on January 3, 2017, to stockholders of record on December 12, 2016, with an ex-dividend date of December 8, 2016.
The annual yield on the dividend is 3.4 percent.
Thomas C. Wajnert also notified the board of directors of Reynolds American Inc. that he will retire as a member of the board, effective Dec. 31, 2016.
As previously announced on Oct. 19, Wajnert also will retire as non-executive chairman, effective Dec. 31, 2016, and Susan M. Cameron, currently RAI’s president and CEO, will become executive chairman on Jan. 1, 2017. She will serve as executive chairman until May 1, 2017, when she is expected to become the non-executive chairman.
Lionel L. Nowell, III, a member of the RAI board since 2007, has been elected lead director, effective Jan. 1, when Cameron assumes the role of executive chairman. Nowell is a retired senior vice president and treasurer of PepsiCo, and also serves on the boards of directors of American Electric Power Company, Inc. and Bank of America Corp.
Wajnert has served as RAI’s non-executive chairman since 2010 and on the board of RAI since 2004, including as lead director from 2008 to 2010. He also served on the board of R.J. Reynolds Tobacco Holdings, Inc. from 1999 to 2004.
“Following the natural progression of succession, this is the right time for this transition,” Wajnert said. “Susan brings extraordinary perspective and insight to her new role following her career-long involvement with the tobacco industry, and her previous service as this board’s chair from 2006 to 2010. Her vision and leadership in RAI’s transformation journey have been an inspiration for us all.”
Cameron praised Wajnert’s outstanding service to the company. “We can’t thank Tom enough for his strong leadership, steady guidance and commitment to returning value to our shareholders. We wish him well in his retirement.”
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