Legg Mason Inc (NYSE:LM) Increases Dividend to $0.40 Per Share – Tech Know Bits
Legg Mason Inc (NYSE:LM) declared a quarterly dividend on Tuesday, May 14th, Wall Street Journal reports. Investors of record on Tuesday, July 2nd will be given a dividend of 0.40 per share by the asset manager on Monday, July 22nd. Legg Mason has raised its dividend by an average of 19.9% annually over the last three years and has increased its dividend every year for the last 9 years. Equities analysts expect Legg Mason to earn $3.82 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 41.9%.