RPM Dividend Offers 2.2% Yield
RPM International Inc. (NYSE: RPM) disclosed that its board has declared a regular quarterly cash dividend of $0.275 per share. On a full year basis, it worked out to $1.10 a share. The dividend offered a yield of 2.2 percent, which is lower than the five-year average yield of 2.4 percent.
RPM said that it fixed the record date of July 18 and that it would pay the dividend on July 29 to all the eligible shareholders. The latest dividend represented a payout ratio of about 44 percent, which was less than the five-year average payout ratio of 62.0 percent.
The company indicated that in October last year it increased 5.8 percent in its cash dividend and marked its 42nd straight year of increased cash dividends paid to its stockholders. The company indicated that there are only 45 other companies that have consecutively paid an increasing annual dividend for this period of time or longer, according to the Mergent Handbook of Dividend Achievers.
RPM shares traded 2.6 percent higher on Friday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.