A.O. Smith Keeps Dividend Steady
Home water heating specialist A.O. Smithannounced yesterday its second-quarter dividend of $0.12 per share, the same rate it paid last quarter after raising the payout 20% from a split-adjusted $0.10 per share. After it raised the dividend, A.O. Smith then split its stock two-for-one.
The board of directors said the quarterly dividend is payable on Aug. 15 to the holders of record at the close of business on July 31. The water heating specialist has made payouts to investors for 73 consecutive years.
The regular dividend payment equates to a $0.48-per-share annual dividend, yielding 1.3% based on the closing price of A.O. Smith's stock on July 8.
The article A.O. Smith Keeps Dividend Steady 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.
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