Chemical packaged goods company Zep (UNKNOWN:ZEP.DL) has increased its quarterly dividend payout by 25%, from $0.04 to $0.05 per share of common stock. This is the first time the company has upped its quarterly dividend since initiating a payout in February 2008. The amount will be payable on November 1 to shareholders of record as of the close of business on October 17.

On an annualized basis, Zep's new dividend adds up to $0.20 per share. The company's stock was trading at a price of $16.15 as of the close of business on October 3, which means Zep currently has a dividend yield of 1.2%.



Fool contributor Caroline Bennett has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insightsmakes us better investors. The Motley Fool has a disclosure policy.