Valspar (NYSE:VAL) is slathering a new coat of shareholder payout on the wall. The company has declared its latest quarterly common stock distribution, which is to be $0.23 per share paid on September 16 to shareholders of record as of September 3. That amount matches each of the firm's previous three distributions, the most recent of which was dispensed in June. Prior to that, Valspar was a bit less generous, handing out $0.20 per share.

The firm is a steady and consistent payer of dividends. Since splitting its stock 2-for-1 in September 2005, its distribution has climbed steadily from $0.10 per share to the present level.

The just-declared dividend annualizes to $0.92 per share. That yields 1.5% at Valspar's current stock price of $63.19.

Fool contributor Eric Volkman has no position in Valspar. Nor does The Motley Fool. 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.