Timken Raises Quarterly Dividend From $0.33 To To $0.34 Cents Per Share
Portfolio Pulse from Benzinga Newsdesk
The Timken Company (NYSE:TKR) announced a 3% increase in its quarterly dividend to $0.34 per share, payable on May 28, 2024, to shareholders of record as of May 14, 2024. This marks the 11th consecutive year of dividend increases, reflecting the company's strong financial performance and commitment to growing dividends in line with earnings. Timken has maintained a quarterly dividend since its NYSE listing in 1922, reaching 408 consecutive quarters.
May 03, 2024 | 12:31 pm
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Timken raises its quarterly dividend to $0.34 per share, marking the 11th consecutive year of dividend growth. This reflects the company's strong financial health and commitment to shareholder returns.
Increasing dividends is often seen as a sign of a company's financial health and stability, which can attract more investors and potentially drive up the stock price. Given Timken's consistent history of dividend payments and the significance of this being the 11th consecutive year of increases, it's likely to be viewed positively by the market.
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