A. O. Smith Increases Quarterly Dividend to $0.32 per Share
A. O. Smith Corporation, a global leader in innovative technology and energy-efficient solutions, has announced an exciting development for its shareholders. The company’s board of directors has approved a 7% increase in the quarterly cash dividend rate, raising it to $0.32 per share. This dividend increase applies to both the Common Stock and Class A Common Stock of A. O. Smith Corporation.
The dividend is set to be paid on November 15, 2023, to shareholders of record as of October 31, 2023. This move reflects the company’s confidence in the stability of its replacement demand within the water heating and boiler businesses. It also demonstrates A. O. Smith Corporation’s commitment to returning capital to its valued shareholders.
Kevin J. Wheeler, the chairman and chief executive officer of A. O. Smith Corporation, expressed his pride in the company’s consistent dividend growth over the years. He stated, “We are proud to say the five-year compound annual growth rate of our dividend rate is more than 10%, and that we have increased our dividend each year for over 30 years.”
A. O. Smith Corporation, headquartered in Milwaukee, Wisconsin, is renowned for its expertise in manufacturing residential and commercial water heating equipment, boilers, and water treatment products. The company’s dedication to innovative technology and energy-efficient solutions has positioned it as a global leader in its industry.
With its listing on the New York Stock Exchange (NYSE:AOS), A. O. Smith Corporation continues to demonstrate its commitment to delivering value to its shareholders. The decision to increase the dividend rate showcases the company’s strong financial performance and its focus on rewarding its investors.
As A. O. Smith Corporation continues to apply cutting-edge technology and energy-efficient solutions to its products, it remains at the forefront of the industry. Shareholders can be confident in the company’s ability to generate sustainable growth and provide attractive returns.
For more information about A. O. Smith Corporation and its wide range of innovative products, please visit their official website at www.aosmith.com.