Value Line raises dividend by nearly 14%, to boost the yield above the S&P 500

Value Line Inc. VALU, -19.19% said Friday it will raise its quarterly dividend by 13.6%, to 25 cents a share from 22 cents. The investment research provider’s new dividend will be payable May 11 to shareholders of record on May 2. Based on current stock prices, the new annual dividend rate implies a dividend yield of 1.66%, which compares with the implied yield for the S&P 500 SPX, -2.77% of 1.47%. Value Line’s stock tumbled 21.0% in afternoon trading, and has now plunged 32.0% since closing at a record $88.80 on Wednesday. It was still up 28.9% year to date, while the S&P 500 has lost 9.6%.