MSC Industrial Direct (NYSE:MSM) is set to hand out its latest quarterly dividend. As in the company's previous two quarters, it will distribute $0.30 per share of its stock on April 30 to shareholders of record as of March 16.

Prior to the firm's first $0.30 payout last November, the company distributed $0.25 per share.

MSC tends to pay dividends every quarter, and since 2010, it has raised them once per year. Over that time, those payouts have risen from $0.20 to the current level.   The company also dispensed a special dividend of $1.00 in late 2010.

The new payout annualizes to $1.20 per share, yielding 1.4% at MSC's current stock price of $82.83.

Fool contributor Eric Volkman has no position in MSC Industrial Direct. The Motley Fool recommends MSC Industrial Direct. The Motley Fool owns shares of MSC Industrial Direct. 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.