A High Dividend Stock Yielding 8%+ That Just Quadrupled Its Dividend

In mid-February, we wrote an article about Marine Harvest Group, (MHG), the Norway-based, world's largest salmon farming company, which started being listed on the NYSE on 1/28/14, after previously being listed on the Pink Sheets. At the time, MHG had just declared a quarterly dividend of 1.20 Norwegian krone, which translated into around $.19/share. We added it to our High Dividend Stocks By Sector Tables, (in the Consumer Staples section).

After having a huge 2014 1st quarter, thanks to ongoing record prices, MHG announced on 4/30/14 that its board has proposed a 5 krone quarterly dividend, to be voted upon at its 5/22/14 Annual General meeting. Also supporting this 4x dividend increase is MHG's upcoming agreement to divest its integrated farming operations on the Shetland and Orkney Islands, which it estimates will bring in around 300 million krone. This sale should close in Q2 2014.

Source: Seeking Alpha

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