Dover Corp raises dividend for 65th consecutive year

Dover Corporation (DOV) will raise its dividend by 1.0 percent this year. Dividend Aristocrat Dover will increase its quarterly dividend to $0.495 per share, marking the 65th consecutive year of dividend increases.

With this increase, Dover has the third longest record of consecutive annual dividend increases of listed companies. Last year Dover hiked its dividend by 2.1 percent.

This increased dividend will be paid on September 15, 2020, to shareholders of record as of August 31, 2020. Based on Thursday's closing price of $105.24 the new dividend yield for Dover is 1.9%. Year-to-date the stock has gained 15.5%, translating into a current market cap of $15.2 billion for Dover.

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of over 23,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." 

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