RV manufacturer Thor Industries (NYSE:THO) announced today its third-quarter dividend of $0.23 per share, a 28% increase over the payout made to investors last quarter of $0.18 per share. The board of directors said the quarterly dividend is payable on October 28 to holders of record at the close of business on October 18.
Noting the decision to increase the quarterly dividend reflected Thor's commitment to returning cash to its shareholders, Thor Industries Executive Chairman Peter B. Orthwein said, "Upon receipt of the anticipated proceeds from the sale of our Bus businesses, which is expected to close by Nov. 1, we expect to have approximately $6 per share in total cash, which we will use according to our ongoing priorities to grow our operations, maintain and grow our regular dividend, and fund special dividends or share repurchases as appropriate."
The regular dividend payment equates to a $0.92-per-share annual dividend, yielding 1.6% based on the closing price today of Thor Industries' stock.
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