Industrial parts supplier W.W. Grainger (NYSE:GWW) announced today its third-quarter dividend of $0.93 per share, the same rate it paid last quarter after raising the payout 16% from $0.80 per share.

The board of directors said the quarterly dividend is payable on September 1 to holders of record at the close of business on August 12. The increase marked the 42nd consecutive year it had increased its dividend, a record matched by only 3% of the companies in the S&P 500.

The regular dividend payment equates to a $3.72-per-share annual dividend, yielding 1.4% based on the closing price today of Grainger's stock.

GWW Dividend Chart

GWW Dividend data by YCharts.

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