In a spate of dividend declarations today on June 19, 2014, AbbVie Inc. (NYSE:ABBV), IBERIABANK Corp (NASDAQ:IBKC), Cantel Medical Corp. (NYSE:CMN) and Applied Industrial Technologies (NYSE:AIT) announced quarterly dividends or increases in payouts.
According the press release of the four companies, AbbVie’s Board of Directors has declared a cash dividend of $0.42 per share for the period ended June 30, 2014. The dividend is payable on August 15, to all stockholders as per record at the close of business hours on July 15, 2014. During the first quarter of 2014, Highline Capital Management, led by Jacob Doft upped its stake by sixty-fold in AbbVie, and currently owns 2.07 million shares of the company.
IBERIABANK Corp’s Board of Directors also declared a cash dividend of $0.34 per share. The cash dividend will be paid to all shareholders as per record at the close of business on June 30, 2014, and is payable on July 25, 2014. It will be equal to an annual dividend of $1.36 per share. Moreover, at the current market capitalization of approximately $2 billion, the dividend yield is 1.97%. In case of IBERIABANK, shareholders can also participate in the Dividend Reinvestment Plan of the company and increase their holding of the company’s common stock conveniently and economically. Mark Lee’s Forest Hill Capital is the largest shareholder of IBERIABANK Corp, of all the hedge funds tracked by InsiderMonkey. The fund owns 607,618 shares with a reported value of $42.62 million.
The Board of Directors of Cantel Medical Corp. has authorized the payment of a regular semi-annual per share cash dividend of $0.045, which will be paid on the outstanding shares of Cantel Medical’s Common Stock. The cash dividend is payable on July 31, 2014, to all shareholders at record at the close of business hours on July 17, 2014. Cantel’s dividend yield is a miniscule 0.25%.
Last but not the least, Neil A. Schrimsher, the president and CEO of Applied Industrial Technologies (NYSE:AIT), announced the Board of Directors’ decision to give cash dividend of $0.25 per share. The dividend will be payable on August 29, 2014 to all stockholders as per record at the close of business on August 15, 2014. Applied Industrial Technologies’ dividend yield is slightly more than 2%.