Life Partners Declares $0.04 Special Dividend

Life Partners Holdings, Inc. (LPHI) declared a special cash dividend of $0.04 per share today. The payment is a distribution of proceeds from a life settlement trust investment, and is in addition to LPHI’s regular quarterly payout of $0.20 per share.

The company plans “to review accumulated payouts from the trust on a quarterly basis. When the payout accumulation reaches at least $750,000 at the end of a quarter, the board can then declare a special dividend, as it has done today.”

Shares of LPHI popped as high as $16.58 (+2.60%) immediately following the announcement, where they carry a 4.83% dividend yield based solely on quarterly payouts. At that level, the special dividend announced today yields 0.99%.

Adjusted for LPHI’s stock split earlier this week, the company has now declared $0.3088 per share in special dividends since 2007, and boosted its regular dividend rate by 525% over the same period.

Life Partners Holdings ranked fifth on my list of The 100 Best Values Among Dividend Stocks entering the year, and currently ranks fifth on my weekly Dividend Stock Value Rankings.

The ex-dividend date for the special dividend announced today is January 27, 2011.

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