Engineered industrial products manufacturer Crane announced yesterday its third-quarter dividend of $0.30 per share, a 7% increase in the payout it made to investors of $0.28 per share. 

The board of directors said the quarterly dividend is payable on September 10 to holders of record at the close of business on August 30. The engineered products maker has made quarterly payouts to investors since 1972.

The regular dividend payment equates to a $1.20-per-share annual dividend, yielding 1.9% based on the closing price today of Crane's stock.


CR Dividend Chart

CR Dividend data by YChartsChart does not reflect the new, higher dividend announcement.

The article Crane Hikes Dividend 7% originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. 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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