Brunswick Corp.’s board of directors said in a statement that it raised its stock quarterly dividend about 14 percent, to $0.24 per share. It’s the seventh consecutive year of dividend increases, according to the company.
“Our decision to increase the dividend is evidence of our board’s confidence in the strength of our focused marine portfolio and reflects our ongoing commitment to execute against our strategy and capital plans,” Brunswick CEO David Foulkes in said in the statement.
“The strong and steady profitability of our parts and accessories business and its aftermarket revenue, along with our focus on product leadership, operational excellence and the structural changes we’ve made to leverage our scale across our marine businesses, position us well for the future,” Foulkes added.
The dividend will be payable Dec. 13 to shareholders of record at the close of business Nov. 19.