The board's decision raises the quarterly distribution to 27 cents per share, up from the previous rate of 26.75 cents. This adjustment brings the annualized payout to $1.08 per share. Based on the company's closing price of $453.24 on Tuesday, the move results in a dividend yield of approximately 0.2%.
In section Market Quotes
Powell Industries Boosts Quarterly Dividend to 27 Cents
Powell Industries announced on Tuesday that its board of directors has approved a 0.9% increase to its quarterly cash dividend, signaling a steady return of capital to shareholders despite a high-flying stock price.
Distribution Timeline
According to the company's announcement, the dividend will be distributed according to the following schedule:
- Record Date: Feb. 18
- Payment Date: March 18
- Annualized Payout: $1.08
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