Today, Diebold (DBD) announced a 9.3% increase in its quarterly cash dividend to 23.5 cents per share versus 21.5 cents per share in the same quarter last year. This is the 54th consecutive year the company has increased its annual dividend. The 5-year average dividend growth rate is 7%. The payout ratio, based on estimated 2007 earnings of $2.31, equals 41%. The historical 5-year average payout ratio totals 35%.
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