(RealTimeTraders.com) - Before the opening bell Friday, Thomas Nelson Inc. (TNM) announced that the Board of directors have declared a quarterly cash dividend of $0.04 per share, payable October 20, for the outstanding common and class B shares.

The company noted that the dividend would be payable to shareholders of record on October 6 and said that it represents the indicated annual cash dividend of $0.16 per share.

The Tennessee-based publisher of books stated that at the annual shareholder meeting, the shareholders have re-elected S.Joseph Moore and Millard V.Oakley to serve the Board for an additional period of three years.

Thomas Nelson added that a new member, Ronald W. Blue has been elected to the Board for a one-year term to replace the retiring member, Andrew J.Young. It also said that Blue currently serves on the board of various organizations including Campus Crusade for Christ, Crown Financial Ministries and The Maclellan Foundation.

The company also revealed that the shareholders have approved the Stock Incentive Plan in the meeting.

TNM closed trade at $12.50 on Thursday.

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