This morning, Garmin (NASDAQ:GRMN) declared its annual dividend of $1.50 per share, an increase of 100% over its 2009 dividend of seventy five cents. With the increased dividend, the company announced plans to move the company's place of incorporation from the Cayman Islands to Switzerland. The planned move is cited as the reason that the company is paying its annual dividend in April instead of December as it has in the past.
Shares of Garmin were trading higher on the news, gaining almost four percent so far today.
In other dividend news, Kraft Foods (KFT) maintained its quarterly dividend of 29 cents per share. Franklin Resources (NYSE:BEN) maintained its quarterly dividend of 22 cents per share. And Discover Financial Services (NYSE:DFS) maintained its quarterly dividend of 2 cents per share.
Among dividend increases, Mead Johnson Nutrition (NYSE:MJN) announced its quarterly dividend of 22.5 cents per share, an increase of about 12% over its prior dividend in December of 20 cents.
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