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.