Lorillard Inc. increases quarterly dividend to $1

Lorillard increases quarterly dividend

GREENSBORO, N.C. — Lorillard Inc. said Friday it has increased its quarterly dividend 8.7 percent.

The company said the $1 dividend, up from 92 cents per share, is payable Sept. 11 to stockholders of record as of Sept. 1.

The cigarette maker’s shares fell 12 cents to $72.38.