By Connor Hart
Patrick Industries raised its dividend five cents, to 60 cents.
The new payout, equal to $2.40 a year, represents an annual yield of about 1.8% based on Friday's closing price of $128.50.
The Elkhart, Ind., company, which manufactures components products, said the higher dividend will be paid Dec. 9 to shareholders of record as of Nov. 25.
The company's board additionally increased its share-repurchase program to $200 million, which includes the $72.9 million remaining under the previous authorization. Purchases can be made over the next 24 months.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 15, 2024 18:52 ET (23:52 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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