Thor Industries Hikes Dividend 28%

RV manufacturer Thor Industries announced today its third-quarter dividend of $0.23 per share, a 28% increase over the payout made to investors last quarter of $0.18 per share. The board of directors said the quarterly dividend is payable on October 28 to holders of record at the close of business on October 18.

Noting the decision to increase the quarterly dividend reflected Thor's commitment to returning cash to its shareholders, Thor Industries Executive Chairman Peter B. Orthwein said, "Upon receipt of the anticipated proceeds from the sale of our Bus businesses, which is expected to close by Nov. 1, we expect to have approximately $6 per share in total cash, which we will use according to our ongoing priorities to grow our operations, maintain and grow our regular dividend, and fund special dividends or share repurchases as appropriate."

The regular dividend payment equates to a $0.92-per-share annual dividend, yielding 1.6% based on the closing price today of Thor Industries' stock.


THO Dividend Chart

THO Dividend data by YCharts. Chart reflects payment of special dividends by Thor Industries.

The article Thor Industries Hikes Dividend 28% 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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