A. O. Smith increases quarterly dividend to $.16 per share
Milwaukee, Wis.— The A. O. Smith Corporation (NYSE:AOS) Board of Directors today approved a 14 percent increase in the company’s quarterly cash dividend to $.16 per share. The dividend increase affects the company’s Common Stock and Class A Common Stock.
The dividend is payable on Aug. 15 to shareholders of record July 29.
“The company’s strong balance sheet and cash-generating ability, coupled with the pending sale of our Electrical Products Company, give us the confidence to increase our dividend,” Paul W. Jones, chairman and chief executive officer, said. “This is the ninth time in the last 10 years our company has increased its quarterly cash dividend.”
A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a global leader applying innovative technology and energy-efficient solutions to products marketed worldwide. The company is one of the world's leading manufacturers of residential and commercial water heating equipment, offering a comprehensive product line featuring the best-known brands in North America and China.