August 17, 2009 (FinancialWire) — Lorillard, Inc.’s (NYSE: LO) board has approved an 8.7% increase in the quarterly dividend on the company’s common stock, from $0.92 per share to $1 per share.

The dividend is payable on September 11 to stockholders of record as of September 1.

Greensboro, North Carolina-based Lorillard is a manufacturer of cigarettes in the United States. The company’s flagship brand is Newport, a menthol-flavored cigarette brand.

Lorillard’s product line has five additional brand lines marketed under the Kent, True, Maverick, Old Gold and Max brand names. These six brands include 44 different product offerings.

The company manufactures all of its products at its Greensboro, North Carolina facility.

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