Mattel, Inc. (MAT) is giving shareholders their biggest raise since 2007, the company announced within today’s impressive earnings report, sending shares up more than 3% in pre-market trading.
The company bumped its annual dividend rate up to $0.92 per share, a 10.8% improvement over the $0.83 paid to shareholders in 2010. As previously announced, the company is moving to a quarterly payout this year, with the first installment of $0.23 per share carrying an ex-dividend date of February 22.
The 10.8% increase represents the biggest raise given to Mattel shareholders since a 15.4% boost in 2007, narrowly edging last year’s 10.7% increase.
The toymaker also reported fourth quarter earnings of $0.89 per share on $2.12 billion in revenue, topping the consensus analyst views for both profit ($0.86 per share) and sales ($2.09 billion).
Shares of MAT rose to 25.03 (+3.64%) in pre-market trading, where they now carry a 3.68% dividend yield.