October 23, 2009 (FinancialWire) — Peabody Energy’s (NYSE: BTU) board approved a 17 percent increase in the company’s regular quarterly dividend on common stock, to $0.07 per share. The increased dividend is payable on November 27 to holders of record on November 5.

In explaining the move, company CEO Gregory H. Boyce said that Peabody has “record cash flows and liquidity and is fully capable of satisfying our capital investments and organic growth as we expand to serve growth markets.”

The increase marks the fifth time the company has raised its dividend since its May 2001 initial public offering.

St. Louis-based Peabody Energy, a coal company, posted 2008 sales of 255 million tons and $6.6 billion in revenues. Its coal products are used for electricity generation.

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