Lennox Hikes Dividend 20%

HVAC specialist Lennox International  announced yesterday it was hiking its second-quarter dividend payment by 20%, increasing the payout to $0.24 per share, from $0.20 per share.

The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 28. Lennox has paid a quarterly dividend every year since at least 2000, and has increased the payout eight times over that time period.

The regular dividend payment equates to a $0.96-per-share annual dividend, yielding 1.5% based on the closing price of Lennox International's stock on May 15.

LII Dividend Chart

LII Dividend data by YCharts
Chart does not include new, higher dividend announcement.

The article Lennox Hikes Dividend 20% 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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story