W.W. Grainger raises dividend for 46th year
The quarterly dividend will be raised to $1.28 per share by Dividend Aristocrat W.W. Grainger.
The new dividend is payable on June 1, 2017, to shareholders of record on May 8, 2017. Grainger has delivered 46 consecutive years of increased dividends.
"Consistently increasing the dividend demonstrates our commitment to shareholder value. At the same time, we will continue to manage the business to drive long-term results," said Grainger Chairman Jim Ryan.
Year-to-date the stock has lost 17 percent resulting in a $11.3 billion market cap for W.W. Grainger. At the current price of $192.70 GWW offers a 2.7% dividend yield.
The stock is followed by a total of 22 analysts with an average rating 'hold' (2x buy, 15x hold and 5x sell). The average target price for W.W. Grainger currently is $208.25, 8.1% above Friday's closing price.
W.W. Grainger, Inc. is a distributor of maintenance, repair and operating supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.