USEC Inc, the recently privatised United States Enrichment Corporation, has declared its first quarterly dividend of $0.275 per share. An annual dividend of $1.10 per share was indicated in the initial public offering.
William Timbers, president and chief executive of USEC Inc, said the dividend represents an annual yield of 7.6%, based on a closing price of $14.50 per share on 9 November. USEC Inc has announced the termination of a contract with Lockheed Martin Utility Services, for management ond operation of its enrichment facilities in Kentucky and Ohio. A USEC subsidiary will take over the work.