Valmont Industries Increases Dividend 11%
Industrial conglomerate Valmont Industries will pay a regular quarterly cash dividend of $0.25 per share, representing an 11.1% increase in the payout to shareholders.
The payment will be made on July 15 to the holders of record at the close of business on June 28, the company announced Monday.
Valmont has paid a quarterly dividend consistently since 1992, with the just-declared quarterly dividend up from its prior distribution of $0.225. The dividend has increased every year since 2005.
Valmont designs and manufactures poles, towers, and structures for lighting and traffic, wireless communication, and utility markets, industrial access systems, and highway safety barriers. It also provides protective coating services and mechanized irrigation equipment for agriculture.
The most recent dividend payment equates to a $1.00-per-share annual dividend yielding 0.7% based on the closing price of Valmont Industries' stock on April 30.
The article Valmont Industries Increases Dividend 11% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.