Franklin Electric Increases Quarterly Dividend From $0.2250 To $0.25 Per Share
Portfolio Pulse from Benzinga Newsdesk
Franklin Electric Co., Inc. (NASDAQ:FELE) has raised its quarterly cash dividend from $0.2250 to $0.25 per share, marking the 32nd consecutive year of dividend increases. The new dividend is payable on February 15, 2024, to shareholders of record as of February 1, 2024. The increase reflects an 11 percent rise from the previous dividend and demonstrates the company's commitment to shareholder returns and confidence in its business outlook.
January 22, 2024 | 1:10 pm
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Franklin Electric has increased its quarterly dividend to $0.25 per share, an 11% hike, showcasing a strong commitment to shareholder value and a positive business outlook.
Dividend increases are typically viewed positively by the market as they signal confidence in the company's financial health and future prospects. The announcement of Franklin Electric's 32nd consecutive dividend increase may attract income-focused investors and could lead to a short-term uptick in the stock price. The 11% increase is substantial and reflects a strong commitment to returning value to shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100