Home water heating specialist A.O. Smith (NYSE:AOS) announced yesterday its second-quarter dividend of $0.12 per share, the same rate it paid last quarter after raising the payout 20% from a split-adjusted $0.10 per share. After it raised the dividend, A.O. Smith then split its stock two-for-one.
The board of directors said the quarterly dividend is payable on Aug. 15 to the holders of record at the close of business on July 31. The water heating specialist has made payouts to investors for 73 consecutive years.
The regular dividend payment equates to a $0.48-per-share annual dividend, yielding 1.3% based on the closing price of A.O. Smith's stock on July 8.