By Sabela Ojea
Shares of Crane Co. jumped Tuesday after the company raised its quarterly dividend by 12% and said profit and revenue rose in the fourth quarter.
The stock was up 11% to $173.50 in morning trading. Shares have surged 41% over the past 12 months.
The Stamford, Conn., industrial-products manufacturer said Monday after the market close that its board of directors approved a quarterly payout to shareholders of 23 cents, up from 20.5 cents previously.
The new payout, equal to 92 cents annually, represents a yield of about 0.6%, based on Monday's closing price of $156.44.
The dividend is payable March 12 to shareholders of record as of Feb. 28.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 28, 2025 11:54 ET (16:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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