PriceSmart Raises Dividend by 20%

PriceSmart, Inc. (PSMT) declared semiannual dividends of $0.30 per share for 2011 today, a 20% increase over the $0.25 per share the company has been paying for the last two years.

Shares of PSMT opened at $39.24 today, where they now carry a 1.53% dividend yield.

The operator of international membership shopping warehouse clubs has now raised its dividend by 87.5% since initiating its semiannual payout in 2007. Earlier this month, the company’s first quarter results easily topped Wall Street’s expectations.

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