Arch Coal Announces Quarterly Dividend Increase
ST. LOUIS, April 22, 2010 -- Arch Coal, Inc. (NYSE: ACI) today announced that its board of directors has approved an increase in the quarterly cash dividend from $0.09 per common share to $0.10 per common share. The dividend is payable June 15, 2010 to shareholders of record on June 1, 2010.
"Today's 11 percent increase in our quarterly dividend reflects the board's confidence in Arch's strong future and rewards our shareholders for their continued investment," said Steven F. Leer, chairman and chief executive officer of Arch Coal.
St. Louis-based Arch Coal is the second largest U.S. coal producer. Through its national network of mines, Arch supplies cleaner-burning, low-sulfur coal to fuel roughly 8 percent of the nation's electricity. The company also ships coal to domestic and international steel manufacturers as well as international power producers.
SOURCE Arch Coal, Inc.