Northern Trust Increases Dividend 12%

Today, Northern Trust (NTRS) announced a 12% increase in its quarterly dividend. The new quarterly dividend increases to 28 cents per share versus 25 cents per share in the same quarter last year. The projected payout ratio is approximately 32% based on estimated 2007 earnings of $3.53. It should be noted that Northern Trust had a stretch where the company did not increase its dividend for eight straight quarters as noted below.