McGraw Hill Financial Announces Its Regular Quarterly Dividend

McGraw Hill Financial MHFI said that its Board of Directors has given its approval for a regular quarterly cash dividend of $0.36 a share on its common stock. On an annualized basis, it worked out $1.44 a share. According to the company, the dividend would be payable on June 10 to its eligible shareholders. For that purpose, the company has fixed a record date of May 26. The Company has been paying a dividend since 1937 and was one of fewer than 25 companies in the S&P 500 that boosted its dividend annually in the last 43 years. Its dividend provided a yield of 1.3% and the payout ratio was 32.0%. Additionally, McGraw Hill Financial said that its name would be changed to S&P Global subject to shareholder approval at its Annual Meeting. On Wednesday, the stock traded higher by 1.15%.