Pawtucket-based Hasbro Inc., the world’s second-biggest toymaker, doubled its dividend to 6 cents a share after
last year’s sales rose at their fastest pace in four years.
The quarterly dividend will be payable on May 17 to
shareholders of record May 3, the company said in a statement. Hasbro last gave a 6-cent dividend
in 2000.
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Hasbro has trimmed debt and reduced operating costs to help
boost profit. It has also revamped its classic toys such as
Transformers robots and rolled out new items including Beyblade
spinning tops to spur sales. Moody’s Investors Service and Fitch
Ratings both raised the company’s credit rating to investment
grade in the last week and a half.
Shares of Hasbro have risen 86 percent
the past year.
Hasbro trails Mattel Inc. in sales.
Bloomberg News
