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DeVry increases annual dividend by 25 percent
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OAKBROOK TERRACE, Ill. - For-profit education provider DeVry Inc. said Wednesday it is raising its dividend by 4 cents annually, to 20 cents from 16 cents per share.
The company, which pays out its dividend semiannually, will pay 10 cents on Jan. 7 to shareholders of record as of Dec. 11.
DeVry will also start a $50 million share repurchase program when its current $50 million repurchase program is complete. The current program expires on Dec. 31, 2011.
DeVry has benefited amid the recession as the jobless and others head back to school. Last month, its fiscal first-quarter earnings rose 57 percent on a jump in enrollment, especially among new students.
DeVry shares fell 16 cents to $53.99 in morning trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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