insane dividends

[wzebra33]

Nov. 14, 2012 -- /PRNewswire/ -- NACCO Industries, Inc. (NYSE: NC) today announced that at its first regular board meeting following the spin-off of Hyster-Yale Materials Handling, Inc. ("Hyster-Yale") on September 28, 2012, the Board of Directors declared a regular quarterly cash dividend of 25 cents per share and a one-time special cash dividend of $3.50 per share, and announced an extension of the Company's current stock repurchase program.

NACCO and its predecessor public company, The North American Coal Corporation, have consistently paid dividends to public shareholders since 1956. The announcement of the regular 25 cents per share cash dividend payout for the fourth quarter establishes a new dividend level following the spin-off of Hyster-Yale. The special dividend reflects the Board's confidence in the financial strength and business prospects of The North American Coal Corporation, Hamilton Beach Brands, Inc. and Kitchen Collection LLC subsidiaries, the cash available on the Company's balance sheet, and takes advantage of the current federal tax rate on dividends. The dividends are payable on both the Class A and Class B Common Stock, and will be paid December 14, 2012 to stockholders of record at the close of business on November 30, 2012.

Read more here: http://www.sacbee.com/2012/11/14/4985003/nacco-industries-declares-quarterly.html#storylink=cpy