Hennessy Advisors declared a quarterly cash dividend of $0.15 per share, continuing a payout the investment manager says it has made for more than two decades. The dividend is payable November 25 to shareholders of record at the close of business on November 10.
- Annualized payout: $0.60 per share, assuming the quarterly dividend continues at the same rate.
- Indicated yield: 5.85%, calculated using Hennessy’s October 27 closing share price of $10.25 and the annualized dividend.
- Company’s stated rationale: CEO and Chairman Neil Hennessy said the quarterly payment is intended to let shareholders participate in the company’s cash generation and reflects its focus on long-term shareholder value.
The announcement sets the amount and dates for this quarter’s cash distribution. The 5.85% figure is an annualized yield based on the stated share price and dividend rate; it is not a guarantee that future dividends will remain at that level.