Discover the industrials stocks with the biggest dividend increases last month, May
Dividends
June 18, 2023
Advanced Drainage Systems, Inc. (ADS), a leading provider of innovative water management solutions in the stormwater and on-site septic waste water industries, has announced a 17% increase in its annual cash dividend to shareholders, totaling $0.56 per share. Scott Barbour, President and CEO of ADS, attributed the dividend increase to Advanced Drainage Systems's robust balance sheet, strong cash generation, and unwavering commitment to delivering value to shareholders. With a focus on financial performance and operational excellence, ADS remains confident in its ability to return excess cash to shareholders while strategically investing in its business. The next quarterly dividend payment of $0.14 per share was distributed on June 15, 2023, to shareholders of record as of June 1, 2023. This dividend increase reflects ADS's dedication to maximizing returns for its investors while sustaining its growth trajectory.
The Brink's Company (BCO), a global leader in cash management, secure logistics, and payment solutions, has recently announced a 10% increase in its regular quarterly dividend on common stock, raising it from 20 cents per share to 22 cents per share. This decision was made by the Board of Directors in light of The Brink's Company's robust performance in 2022, its solid financial position, and positive business outlook. This dividend increase, along with their share repurchase program, aligns with their capital allocation framework and demonstrates their dedication to enhancing long-term shareholder value by returning excess cash to investors. The dividend was paid on June 1, 2023, to shareholders of record on May 15, 2023.
The Timken Company (TKR) recently announced a 6 percent increase in its quarterly cash dividend to 33 cents per share, reflecting their strong financial performance and positive outlook. As a global leader in engineered bearings and industrial motion products, Timken's consistent dividend growth is a testament to their disciplined capital allocation strategy.
Northrop Grumman Corporation (NOC) recently announced a significant milestone by increasing their quarterly dividend by 8%. Northrop Grumman's board of directors declared a dividend of $1.87 per share on Northrop Grumman common stock, payable on June 14, 2023, to shareholders of record as of May 30, 2023. This increase marks the 20th consecutive annual dividend growth for Northrop Grumman. Kathy Warden, the chair, chief executive officer, and president, emphasized Northrop Grumman's commitment to a disciplined and balanced approach to capital deployment.
AGCO, a global leader in agricultural machinery and precision ag technology, reported strong first-quarter results with net sales of approximately $3.3 billion, a 24.1% increase compared to the same period last year. AGCO's success can be attributed to the execution of its strategy, solid operational performance, pricing actions, and a stabilizing supply chain. AGCO's order board remains extended, reflecting confidence in its products and the strength of the large agricultural demand. Furthermore, AGCO recently published its 2022 Sustainability Report, showcasing progress in environmental, social, and governance issues. As a testament to its financial performance and commitment to shareholders, AGCO declared a variable special dividend of $5.00 per share and increased its quarterly dividend by 21% to $0.29 per share.
Information Services Group, a global technology research and advisory firm, recently announced record revenues and adjusted EBITDA for the first quarter of 2023. Information Services Group experienced a robust start to the year, with a 17 percent increase in revenues in the Americas and a 27 percent growth in recurring revenues year over year. This success is attributed to their portfolio of digital transformation, digital sourcing, and cost optimization services, supported by proprietary research and SaaS platforms. In light of these positive financial results and to demonstrate their commitment to shareholders, Information Services Group increased its quarterly dividend by 12.5 percent, from $0.04 per share to $0.045 per share.
Werner Enterprises, Inc. (WERN) recently boosted its quarterly dividend payout by 8% to $0.14 per common share, up from $0.13 per common share. This increase reflects Werner Enterprises' commitment to rewarding its shareholders and underscores its financial strength. Werner Enterprises, a leading transportation and logistics company, has a long-standing tradition of paying regular dividends dating back to July 1987.
MSA Safety Incorporated, a renowned company in the safety industry, recently announced a 2.2% increase in its quarterly dividend, raising it from $0.46 to $0.47 per share on common stock. This marks the 53rd consecutive year of dividend growth for MSA Safety, a company that has been paying dividends since 1948. The decision to increase the dividend reflects MSA Safety's commitment to providing consistent returns to its shareholders. MSA Safety's strong history of cash generation and its dedication to a balanced capital allocation strategy have enabled it to invest in future growth opportunities while rewarding shareholders. MSA Safety's Senior Vice President and Chief Financial Officer, Lee McChesney, emphasized MSA Safety's pride in its secure and growing dividend and its ability to deliver value to both investors and the business. In addition to the common stock dividend increase, MSA Safety also declared a dividend of $0.5625 per share on preferred stock.
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