Lindsay Increases Quarterly Dividend By 3%

Lindsay Corp LNN said its Board of Directors increased the quarterly cash dividend to $0.35 per share, representing a 3% increase to the previous quarterly indicated rate of $0.34 per share.

The dividend is payable on August 31, 2023, to shareholders of record at the close of business on August 17, 2023.

The new annual indicated rate is $1.40 per share, up from the previous annual indicated rate of $1.36 per share.

As of June 26, 2023, Lindsay Corporation had approximately 11.0 million shares outstanding.

Lindsay held $144.4 million in cash and equivalents as of May 31, 2023.

Price Action: LNN shares closed lower by 0.24% at $116.04 on Thursday.