By Sabela Ojea
Mueller Water Products said it is raising its quarterly dividend by about 4.7%, to 6.7 cents.
The manufacturer and distributor of water infrastructure products on Tuesday said that its board of directors approved increasing its quarterly payout to shareholders to 6.7 cents from 6.4 cents previously.
The new payout, equal to nearly 27 cents annually, represents a yield of 1.2%, based on the stock's Tuesday closing price of $22.07.
The new dividend will be paid on Nov. 20 to shareholders of record on Nov. 8.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 22, 2024 18:59 ET (22:59 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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