Terex Corporation (NYSE: TEX), a global manufacturer of lifting and material processing products, has recently declared an exciting announcement for its shareholders. The company's Board of Directors has approved a 13% increase in the quarterly dividend, raising it to $0.17 per share. This marks the second dividend increase this year, following a 15% increase in February, bringing the total dividend increase to an impressive 31%. Terex's Chairman and CEO, John L. Garrison, Jr., expressed confidence in the company's financial strength and future growth prospects.

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Dividend Increase Details

The latest dividend increase by Terex Corporation demonstrates the company's commitment to enhancing shareholder value. By raising the quarterly dividend by 13%, shareholders will now receive $0.17 per share. This decision is a testament to Terex's positive financial performance and long-term growth outlook. The dividend increase is an opportunity for investors to capitalize on their investment and enjoy a higher return.

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Confidence in Financial Position and Growth Prospects

Terex Chairman and CEO, John L. Garrison, Jr., emphasized the company's confidence in its strong financial position and promising growth prospects. The consecutive dividend increases reflect Terex's commitment to delivering value to its shareholders. The management's decision to raise dividends twice in a single year underscores their optimistic outlook for the company's future performance and their dedication to rewarding shareholders for their continued support.

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Payment Schedule and Eligibility

The increased dividend of $0.17 per share will be distributed to all Terex Corporation stockholders of record as of August 14, 2023. To qualify for the dividend payment, shareholders must hold their shares until the close of business on August 14, 2023. The dividend distribution is scheduled to take place on September 19, 2023, providing investors with a timely return on their investment.