NEW YORK, Feb. 26, 2009 (GLOBE NEWSWIRE) -- The Board of Directors of Sotheby's (NYSE:BID - News) has declared a quarterly dividend of $0.15 for the first quarter of 2009. The first quarter dividend is payable on March 16, 2008 to shareholders of record as of March 9, 2009.
In the business section of the International Herald Tribune, a writer mentioned that the record Christie's auction is just hype. But a $0.15 quarterly dividend (coming out to a $0.60 annually which is about an 8.3% dividend), tells a different story.
Cash is king and Sothebys has it and is giving it to shareholders. What is there not to like? They could have easily stopped their dividend but they didn't.
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