Assurant's Dividend Payout Ratio Is Better Than Its Five-Year Average Payout Ratio

Assurant, Inc.

, revealed that its Board of Directors declared a quarterly dividend of $0.50 per share of its common stock. On an annualized basis, this would translate into $2.00 a share. The latest dividend represented 34.0% of the payout from its profit. Incidentally, that is higher than the five-year average payout ratio of 20.0%. Assurant said that the dividend would be payable on June 14 to all the stockholders. For that purpose, the company has fixed May 31 as the record date for determining the eligible shareholders. Two trading days before the record date, the stock would turn into ex-dividend. The company has been paying a dividend since 2004 and boosted the dividend for eleven straight years. Its dividend provided a yield of 2.30 percent, which was also higher than the five-year average dividend yield of 1.70 percent. Its five-year dividend growth rate was 20.87 percent. Shares of the company traded 0.03 percent down on Friday.