Marshall & Ilsley (MI) announced a 3.23% increases in its quarterly cash dividend. The new quarterly dividend increases to 32 cents per share versus 31 cents per share in the same quarter last year. This increase is far below the 5-year historical dividend growth rate of 11% for MI. Additionally, the projected payout ratio, based on estimated 2008 earnings of $1.90, increases to 67% compared to the 5-year average payout ratio of 37%. The company has a S&P Quality Ranking of A.
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