Today Lorillard posted 4th quarter 2012 and full year 2012 results. They reported record sales and raised their dividend 6.5% to .55/share. Shares are up currently 6%. This increases my yearly dividends on my 78 shares by $10.39/year.
From their website here:
GREENSBORO, N.C., Feb. 13, 2013 /PRNewswire/ —
- Fourth quarter reported (GAAP) diluted earnings per share (on a split adjusted basis) increased 3.9% versus last year to $0.80, and annual reported (GAAP) diluted earnings per share increased 5.6% to a record $2.81.
- Fourth quarter adjusted (Non-GAAP) diluted earnings per share (on a split adjusted basis) increased 8.2% versus last year to $0.79, and annual adjusted (Non-GAAP) earnings per share increased 7.2% to a record $2.82.
- Net sales in the fourth quarter increased 5.3% over last year to $1.704 billion. Annual net sales increased 2.4% over last year to a record $6.623 billion.
Lorillardretail market share of cigarettes increased for the 10th consecutive year to 14.4%, an increase of 0.3 share points.
- In its first year with
Lorillard, blu eCigs distribution expanded to more than 50,000 stores resulting in fourth quarter net sales of $39 million and over a 30% retail market share.
- Share repurchases totaled $304 million during the quarter under the $500 million share repurchase program.
Lorillard‘s Board of Directors declared a three-for-one stock split effected in the form of a 200% stock dividend to shareholders of record on December 14, 2012 which was distributed on January 15, 2013. All share and per share data within this release reflect the impact of the stock split. Lorillard‘s Board of Directors approved a 6.5% increase in its quarterly dividend to $0.55 per share.