NortonLifeLock is hiking your dividend

Article Excerpt

NORTONLIFELOCK INC., $25, is a buy for investors. The company (Nasdaq symbol NLOK; High-Growth Divd. Payer Portfolio, Consumer sector; Shares o/s: 623.3 million; Market cap: $15.6 billion; Divd. yield: 2.0%; Divd. Sustainability Rating: Average; www.nortonlifelock.com) has now changed its name from Symantec (old symbol SYMC) following the sale of its Enterprise Security business to Broadcom for $10.7 billion. The remaining firm is a pure-play provider of consumer cybersecurity products—and arguably more attractive to investors. NortonLifeLock will use proceeds to pay investors a $12.00-a-share special dividend. It will also lift your regular quarterly dividend by a whopping 66.7%, to $0.125 a share. The new annual rate of $0.50 yields investors a solid 2.0%. 2.0%….