This morning, Macy's (NYSE:M) declared its quarterly dividend of 10 cents per share, doubling the amount paid to shareholders last quarter. Based on the current stock price, investors can expect a yield of about 1.4% going forward.
Shares of Macy's were sharply higher on Wednesday, gaining 9.5% on the news.
In other dividend news, 3M Company (NYSE:MMM) maintained its quarterly dividend of 55 cents per share. Cummins (NYSE:CMI) maintained its quarterly dividend of 26.25 cents per share. Brookfield Asset Management (NYSE:BAM) maintained its quarterly dividend of 13 cents per share. And ITT Corporation (NYSE:ITT) maintained its quarterly dividend of 25 cents per share.
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