Todd Shipyards rises quarterly dividend

Todd Shipyards Corp. announced that its Board of Directors, at its August meeting, declared an increase in its dividend of two and one-half cents ($0.025) per share, bringing its quarterly dividend to ten cents ($0.10) per share.
In a release on Aug. 23, Todd Shipyards Corp. said the dividend will be paid Dec. 23 to all shareholders of record as of Dec. 8. The Company's previously announced seven and one-half cent ($0.075) dividend payable on Sept. 23 to all shareholders of record as of Sept. 8 remains unchanged.
The Company's subsidiary, Todd Pacific, performs repair and maintenance work on commercial and federal government vessels engaged in various seagoing trade activities in the Pacific Northwest and provides new construction and industrial fabrication services for a variety of customers. Its customers include the U.S. Navy, the U.S. Coast Guard, NOAA, the Washington State Ferry system, the Alaska Marine Highway System, and various other commercial and governmental customers. Todd has operated a shipyard in Seattle since 1916.