Valspar hikes dividend for 39th consecutive year

Valspar (VAL) will raise its dividend by 12.1%.

The new quarterly dividend of $0.37 per share is payable on December 15, 2016, to shareholders of record on December 1, 2016.

The payment represents a 12% increase and marks the 39th consecutive year the Corporation has increased the dividends. Valspar is a member of the S&P High Yield Dividend Aristocrats(R), which is comprised of companies increasing dividends every year for at least 20 consecutive years.

Valspar is the fourth largest US paint maker. This March the number 1 paint maker Sherwin-Williams (SHW) agreed to by Valspar for $113 per share for a total of $13 billion. The deal is not approved yet by the US authorities.

The increased dividend by Valspar indicates an annualized rate of $1.48 per common share and a yield of approximately 1.5% based on the $101.32 closing price on November 17, 2016.

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