Dividends are declared quarterly. Five years ago the dividend was .$42 per quarter and increased to $.47 by the 2nd quarter of 2009, then came the $ .15. The company has stated that they would pay dividends of 40-60% of earnings. The earnings are coming. Hang on.
Back in the good old days, the dividend was increased semi-annually. If history repeats, there should be an increase in the fourth quarter if earnings cooperate. The CEO has stated publicly that between 40-60 % of earnings should be paid out as dividends.
tenncpa: Perhaps if it were up to the CEO and Board that would be the case; however, dividend payments are now subject to preapproval by the Federal Reserve. Maybe that will change sometime in the future but I am not counting on it happening anytime soon.
The good old days apparently were short lived. I only see a one year period where dividends were increased in back to back 6 month periods (semi-annually)...payments for July '92, Jan '93, and July '93 were increased from the previous quarters. Except for the Oct '91 payment and this year's April payment, all other increases were made in July.