DundeeWealth Inc. (TSX: DW) announced on Monday that its board of directors approved an increase to its quarterly dividend payments on common and special shares from $0.035 to $0.070 per share.

The wealth management company said its board has approved the payment of a quarterly cash dividend of $0.070 per common and special share, payable on April 15, 2010, to shareholders of record on April 1, 2010.

“Our decision to double the quarterly dividend is a reflection of a significant improvement in our financial strength,” said David Goodman, president and CEO of DundeeWealth.

A quarterly dividend of $0.070 represents an annual yield of 2.1% on DundeeWealth’s closing share price of $13.51 on March 19.

IE