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Following a long-standing tradition, RPM International (NYSE: RPM ) has added to its shareholder payout. The company declared its latest quarterly dividend, which is to be $0.24 per share paid on October 31 to shareholders of record as of October 21. That amount is $0.015, or 7%, higher than the firm's previous distribution of $0.225, paid at the end of July.
In the press release heralding the news, the company pointed out that this marks the 40th consecutive year it has increased its distribution.
The new dividend annualizes to $0.96 per share. That yields 2.6% at RPM International's most recent closing stock price of $37.06.