Worthington Industries (NYSE:WOR) is apparently confident enough about its looming earnings release to boost its shareholder payout. The company has declared a quarterly dividend of $0.15 per share, to be dispensed on Sept. 27 to shareholders of record as of Sept. 13. That amount is $0.02, or 15%, higher than Worthington Industries' three preceding payouts of $0.13 apiece, all of which were distributed simultaneously last December.
In the press release announcing the news, the company didn't hesitate to say that this represents the 183rd consecutive quarter it has paid a distribution since going public in 1968.
The new dividend annualizes to $0.60 per share. That yields 1.9% at Worthington Industries' most recent closing stock price of $32.36.
The company is scheduled to report its Q4 2013 earnings tomorrow.
Fool contributor Eric Volkman has no position in Worthington Industries. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
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