Occupational safety specialist MSA has increased its second-quarter dividend to $0.30 per share, a 7% increase over the $0.28-per-share payout it made back in February.
MSA has paid a dividend every quarter since 1990 and has regularly increased the payout over that time. The new dividend is payable on June 10 to shareholders of record as of May 20.
The Board also declared a dividend of $0.5625 per share on its preferred stock, which is payable June 1 to shareholders of record on May 20.
Headquartered in Pennsylvania, MSA has annual sales of approximately $1.2 billion and operates manufacturing facilities in the U.S., Europe, Asia, and Latin America, as well as 42 other international locations.
The new payout annualizes to $1.20 per share and yields 2.4% based on the closing price of MSA's stock on May 7.
The article MSA Increases Dividend 7% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Mine Safety Appliances. 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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