Papa John's International Inc. announced that the board of directors has declared a quarterly dividend of $0.125 per common share, payable Feb. 21, to shareholders of record at the close of business on Feb. 10. According to a news release, at this quarterly dividend rate, the annual dividend is equivalent to $0.50 per common share.

This is the first dividend payable following the recently approved two-for-one split of the company's common stock. The amount of the dividend was adjusted as a result of the stock split and is equivalent to the $0.25 per share regular quarterly dividend declared in the third and fourth quarters of 2013 prior to the split.

The chain issued its first quarterly cash dividend in September.

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