NACCO Industries cuts dividend by 39.4 percent
NACCO Industries (NC) will lower its quarterly dividend from $0.2725 to $0.165 per share in the fourth quarter of 2016 following the Hamilton Beach Brands spin-off in September.
Earlier this year NACCO had raised its dividend by 1.9%. Today’s dividend cut follows the spin-off of Hamilton Beach Brands Holding Company (HBB) on September 29, 2017.
The lower dividend will be paid by NACCO on December 15, 2017 to shareholders of record on December 1, 2017. The new dividend yield for NC is 1.5%.
NACCO Industries, Inc. is an operating holding company for The North American Coal Corporation, which mines coal primarily for use in power generation and provides value-added services for natural resource companies.
Earlier this year NACCO had raised its dividend by 1.9%. Today’s dividend cut follows the spin-off of Hamilton Beach Brands Holding Company (HBB) on September 29, 2017.
The lower dividend will be paid by NACCO on December 15, 2017 to shareholders of record on December 1, 2017. The new dividend yield for NC is 1.5%.
NACCO Industries, Inc. is an operating holding company for The North American Coal Corporation, which mines coal primarily for use in power generation and provides value-added services for natural resource companies.
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