Donaldson Hikes Dividend 30%

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Filtration systems specialist Donaldson  (NYSE: DCI  )  announced yesterday its second-quarter dividend of $0.13 per share, a 30% increase from the $0.10 per share payout it made last quarter.

The board of directors said the quarterly dividend is payable on June 21 to the holders of record at the close of business on June 7. It marks Donaldson's 231st consecutive quarterly cash dividend paid over 57 years, and is the 27th consecutive year it has raised the payout.

Donaldson CEO Bill Cook said, "Our updated dividend payout policy, combined with our long-standing practice of repurchasing an average of 2 percent of our outstanding shares each year, firmly demonstrates our commitment of returning a high percentage of our earnings to our Shareholders while continuing to grow our Company's sales and earnings."

The regular dividend payment equates to a $0.52-per-share annual dividend, yielding 1.4% based on the closing price of Donaldson's stock on May 22.
DCI Dividend Chart

DCI Dividend data by YCharts
Chart does not reflect the new, higher dividend payment announcement.

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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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Related Tickers

5/2/2016 4:02 PM
DCI $32.80 Up +0.12 +0.37%
Donaldson Company,… CAPS Rating: ***