Reynolds American (RAI) Approves Quarterly Dividend
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The board of directors of Reynolds American Inc. (NYSE: RAI) today declared a quarterly cash dividend on the company's common stock of $0.85 per share ($3.40 per share annualized). The dividend will be payable on Oct. 1, 2008, to shareholders of record on Sept. 10, 2008.
This is the 17th consecutive quarterly cash dividend that Reynolds American has declared since it became a publicly traded company on July 30, 2004. RAI's policy is to return about 75 percent of the company's current-year net income to shareholders in the form of dividends. [SM]
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