Barnes & Noble has declared another quarterly dividend of 15 cents a share, maintaining its annual dividend rate of 60 cents a share at a time when some observers had speculated that the company might have to lower or suspend the dividend because of declining revenues. The quarterly dividend will be paid January 26 to stockholders of record at the end of the business day on January 5. Because of the company's slow, steady decline in share price, the dividend yield has kept rising, and now is nearly 9%.
In other B&N news, founder and chairman Len Riggio bought a million shares of company stock last Friday at $6.8027 a share, for just over $6.8 million, bringing his total share of B&N stock to slightly over 14 million shares, above 19% of B&N's shares outstanding. (At yesterday's closing price of $6.60 a share, his shares in the company are worth about $92.4 million.)