Donaldson Hikes Dividend 30%

Filtration systems specialist Donaldson announced yesterday its second-quarter dividend of $0.13 per share, a 30% increase from the $0.10 per share payout it made last quarter.

The board of directors said the quarterly dividend is payable on June 21 to the holders of record at the close of business on June 7. It marks Donaldson's 231st consecutive quarterly cash dividend paid over 57 years, and is the 27th consecutive year it has raised the payout.

Donaldson CEO Bill Cook said, "Our updated dividend payout policy, combined with our long-standing practice of repurchasing an average of 2 percent of our outstanding shares each year, firmly demonstrates our commitment of returning a high percentage of our earnings to our Shareholders while continuing to grow our Company's sales and earnings."

The regular dividend payment equates to a $0.52-per-share annual dividend, yielding 1.4% based on the closing price of Donaldson's stock on May 22.

DCI Dividend data by YCharts
Chart does not reflect the new, higher dividend payment announcement.

The article Donaldson Hikes Dividend 30% originally appeared on Fool.com.

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