Wednesday, 11 April 2012

Carfinco Increases Dividend Over 16%

Shares outstanding: 24.65 million
Shares fully diluted: 24.65 million

Shareholders of Carfinco are reaping the rewards of its top tier management team and their ability to grow the finance receivables by 20% per year while keeping delinquencies at acceptable levels.

Carfinco has just announced an increase in its cash dividend to $0.035 from $0.03 per month, a 16.7% increase. Based on a closing share price of $7.88 today, the dividend yield increased to about 5.3%.