NOVATO – Hennessy Advisors (OTCBB: HNNA) announced a quarterly cash dividend of 2.5 cents per share today, payable on Dec. 8 to shareholders of record as of Nov. 15.
Total dividend payments for the Novato-based investment management firm are 10 cents per share in 2011, an 11 percent increase over the last annual dividend of nine cents in 2010.
Neil Hennessy, president, chairman and CEO of the firm, said that the 3.3 percent dividend yield surpassed the Dow Jones Industrial Average and the current 30-year Treasury bill.
“Like many companies with a strong cash position, we raised our dividend last year, and we will continue to seek out ways to reward our long-term shareholders,” he said.
