The new dividend rate translates to an annual payout of $1.52 per share. Based on Monday’s closing market price of $56.60, the move results in an annual yield of 2.7%. The company scheduled the distribution for November 16, with the eligibility cutoff for shareholders of record falling on October 30.
In section Market Quotes
A.O. Smith Lifts Quarterly Dividend to 38 Cents
Shareholders of A.O. Smith are set for a payout increase as the heating and water treatment manufacturer raises its quarterly cash dividend to 38 cents per share. This adjustment from the previous 36-cent rate signals a 6% boost for investors holding the company’s stock heading into the final quarter.
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