Wednesday’s Dividend Changes: 4 Companies Boost Payouts (MS, AIRI, MOV, BANR)

U.S. markets were down on Wednesday, after the announcement that the U.S. and EU would be working together to impose stricter sanctions on Russia. In some positive market news, four companies raised their quarterly dividend, including Morgan Stanley (MS), which doubled its payout and announced a $1 billion buyback.

Morgan Stanley Doubles Dividend

Morgan Stanley raised its quarterly payout to 10 cents from 5 cents, making its annualized dividend 40 cents. The raise will start with the dividend that is expected to be declared in the second quarter. In addition to its dividend raise, MS announced a $1 billion stock repurchase plan, which is expected to start during the second quarter and run through to the first quarter of 2015.

Air Industries Group Raises Dividend by 2.5 Cents

Air Industries Group (AIRI) boosted its quarterly payout from 12.5 cents to 15 cents, making for an annualized payout of 60 cents. The dividend is payable on April 22 to shareholders on record as of April 15. The stock goes ex-dividend on April 11.

Movado Group Boosts Payout by 25%

Movado Group (MOV) raised its quarterly dividend from 8 cents to 10 cents. The company now has an annualized payout of 40 cents and yields 0.86%. MOV’s dividend is payable on April 21 to shareholders on record as of April 7. The stock goes ex-dividend on April 3.

Banner Raises Dividend by 20%

Banner Corp (BANR) raised its quarterly payout from 15 cents to 18 cents. The company now has an annualized payout of 72 cents and yields 1.75%. The dividend is payable on April 15 to shareholders on record as of April 7. The stock goes ex-dividend on April 3.