RAI increases quarterly dividend

Reynolds American Inc. said yesterday that its board of directors had approved a 6.8 percent increase in the quarterly cash dividend on the company’s common stock, taking it from $0.59 per share ($2.36 per share annualized) to $0.63 per share ($2.52 per share annualized).

The dividend will be payable on July 1 to shareholders of record on June 10.

“This increase is in line with the company’s policy of returning about 80 percent of net income to shareholders in the form of dividends, and underscores our commitment to returning value to shareholders,” said CFO Thomas R. Adams.