Specialty coatings manufacturer RPM International (NYSE:RPM) announced today its second-quarter dividend of $0.225 per share, the same rate it's paid for the past three quarters after raising the payout almost 5% from $0.215 per share.
The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on July 12. The increase made last October puts the speciality coatings maker in a rarified group of companies. It marked the 39th consecutive annual dividend increase RPM has made, which it says something less than 0.5% of all 19,000 publicly traded U.S. companies have achieved. Only 47 other companies besides RPM have consecutively paid an increasing annual dividend for this long or longer, it says.
The regular dividend payment equates to a $0.90-per-share annual dividend, yielding 2.8% based on the closing price of RPM international's stock on July 1.
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