Rockwell Automation (ROK -2.21%) is set to boost its payout for shareholders. The engineering company will distribute a dividend of $0.52 per share of its common stock on June 10 to shareholders of record as of May 13. That amount is 11% higher than the company's previous disbursement of $0.47, which was handed out in each of the past three quarters.
After keeping its dividend consistent and level from late 2006 to mid-2010, Rockwell Automation has recently gotten into the habit of raising that payout roughly once per year.
The new dividend annualizes to $2.08 per share. That yields 2.5% at Rockwell Automation's current stock price of $84.59.