The board of directors of Brunswick Corp. declared a quarterly dividend on its common stock of 16.5 cents a share, which reflects a 10 percent increase from the previous level of 15 cents a share.
The dividend will be payable Dec. 15 to shareholders of record on Nov. 22.
"This dividend increase is Brunswick's fourth increase since 2013, and reflects our confidence in the execution of our strategy. This also demonstrates our continued commitment to a balanced approach to capital allocation, which includes investing in growth, as well as returning cash to our shareholders," Brunswick chairman and CEO Mark Schwabero said in a statement.
The company said its current annualized dividend of 66 cents a share will exceed its pre-recession peak by 6 cents a share.