Emerson Electric raises dividend for 60th consecutive year

Dividend Aristocrat Emerson Electric (EMR) will increase its quarterly dividend by 1.1%.

The quarterly dividend will be hiked from $0.475 to $0.48 per share, marking 60 years of consecutive dividend increases.

Emerson Electric has an indicated dividend yield of 3.8% based on today's closing price of $51. The stock has gained 6.6% in 2016, following double digit declines in 2015 and 2014.

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