Mobile phone retailer Glentel increases quarterly dividend to 13 cents

BURNABY, B.C. – Glentel Inc. (TSX:GLN) is increasing its quarterly dividend to 13 cents a share, up from 12.5 cents.

The mobile phone retailer said Thursday the dividend will be payable on Jan. 23 to shareholders of record as of Jan. 10.

The increase amounts to an annual dividend of 52 cents per share, up four per cent from 50 cents per share.

Based on Glentel’s share price, the stock will yield about 3.7 per cent.

The Burnaby, B.C.-based company has more than 470 locations in Canada at malls, Costco stores, Target stores, and business centres. It also has more than 900 retail outlets in the United States, Australia and the Philippines.