April 26, 2023

‍

‍

‍

W.W. Grainger, Inc. (NYSE: GWW), a leading broad-line supplier of maintenance, repair, and operating (MRO) products, announced on Tuesday that its board of directors has approved an increase of 8% in its quarterly cash dividend, marking the 52nd consecutive year of annual dividend increases.

‍

Dividend increase details

The new quarterly cash dividend of $1.86 per share represents an increase of 8% from the most recent company dividend of $1.72 per share. The dividend will be payable on June 1, 2023, to shareholders of record on May 8, 2023.

‍

Commitment to shareholders

D.G. Macpherson, Chairman and CEO of Grainger, stated, "We are pleased today to continue our longstanding commitment to our shareholders through our dividend program. This year marks the 52nd consecutive year of annual dividend increases and reinforces our ability to return value to our shareholders, while also strategically investing in the business."

‍

Financial performance

Grainger has a strong financial performance with a market capitalization of over $21 billion. The company reported total revenue of $12.2 billion in 2020, representing a 1.5% increase from 2019. Additionally, its earnings per share (EPS) increased by 2.9% in 2020 to $17.01. The company has consistently delivered shareholder value through its dividend program and has returned $1.6 billion to shareholders in 2020 alone.

‍

‍

‍

Members of LevelFields received the alert of this event on April 26, 10:33 AM ET

Join LevelFields now to be the first to know about events that affect stock prices and uncover unique investment opportunities. Choose from events, view price reactions, and set event alerts with our AI-powered platform. Don't miss out on daily opportunities from 6,300 companies monitored 24/7. Act on facts, not opinions,and let LevelFields help you become a better trader.