Diebold, Incorporated (DBD) announced Thursday that its Board of Directors declared a regular quarterly cash dividend $0.26 per common share or an annualized $1.04 dividend. Shares of Diebold hit a daily high of $32.33 before ending the trading day at $32.08. The dividend yield for Diebold shares is 3.3 percent.
The dividend is payable on December 11, 2009, to stockholders of record as of November 20, 2009. The ex-dividend date is November 18, 2009.
Since the beginning of 2009, Diebold shares have gained 11.5 percent and underperformed the 18.8 percent gain in the S&P 500 index.
In August, the integrated security systems and services company reported second quarter 2009 net income of $30.6 million, or earnings per share (EPS) of $0.46. The second quarter net income was up 5 percent from the second quarter of 2008. Diebold has a current-year P/E ratio is 22.6.
Diebold manufactures and services electronic voting machines. The company has little competition in that market. A strong market position, moderate dividend yield, and relatively low 56.5 percent dividend payout ratio combine to make Diebold a solid long-term income play.
Diebold will release third quarter financial results on Tuesday, November 3, before trading begins on the New York Stock Exchange.
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