Dividend Decisions, Decisions; 2 Stocks with Crazy High Yields

CLARCOR Inc. (NASDAQ: CLC), a provider of filtration products, filtration systems and services, and consumer and industrial packaging products, on Thursday announced that its board of directors raised the regular quarterly dividend by 14%. The dividend will be payable on October 12, 2011. CLARCOR currently has a dividend yield of 0.99%.

Earlier this month, CLARCOR also announced its third-quarter financial results. The company reported third-quarter diluted earnings per share of $0.63, representing an increase of 15% over the same period in the previous year. The company’s net sales of the quarter increased 8% on a year-over-year basis.

Chimera Investment Corp. (NYSE: CIM), a specialty finance company investing directly or indirectly in residential mortgage-backed securities, residential mortgage loans, commercial mortgage loans and other asset classes, last week announced that its board of directors approved a quarterly cash dividend of $0.13 per share. The dividend will be payable on October 27, 2011. Chimera currently has a dividend yield of 18.37%.

For the second quarter of 2011, Chimera reported core earnings of $145.6 million, or $0.14 per share, compared with $142.8 million, or $0.19 per share reported in the previous quarter and $153.5 million, or $0.15 per share reported for the same period in the previous year.

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