Value Line Inc. said Friday it will raise its quarterly dividend by 13.6%, to 25 cents a share from 22 cents. The investment research provider’s new dividend will be payable May 11 to shareholders of record on May 2. Based on current stock prices, the new annual dividend rate implies a dividend yield of 1.66%, which compares with the implied yield for the S&P 500 of 1.47%. Value Line’s stock tumbled 21.0% in afternoon trading, and has now plunged 32.0% since closing at a record $88.80 on Wednesday. It was still up 28.9% year to date, while the S&P 500 has lost 9.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.