Hewing to a long-standing tradition, Eaton (NYSE: ETN ) is continuing to hand out a dividend. The company has declared its latest distribution, which is to be $0.42 per share paid on Aug. 23 to shareholders of record as of Aug. 5. That amount matches both of the company's two preceding payouts, the most recent of which was dispensed at the end of May. Before that, Eaton paid $0.38 per share.
In the press release announcing the news, the company pointed out that it has paid a distribution every year since 1923.
The just-declared dividend annualizes to $1.68 per share. That yields 2.5% at Eaton's most recent closing stock price of $68.05.