Exponent hikes dividend by 5.3%

Exponent Inc. (EXPO) will raise its quarterly dividend by 5.3 percent to 20 cents per share in 2021. This follows a dividend hike of 18.8 percent to a split adjusted $0.19 per share in the first quarter of 2020. This also marks the 8th consecutive year of dividend increases by the consulting company.

The increased dividend will be paid on March 26, 2021 to all common stockholders of record as of March 12, 2021. The new annualized dividend rate of 80 cents yields 0.9% at a stock price of $87.88.

From the company's press release: “The increase in our regular quarterly dividend reflects the resilience in the business model and the strength of our balance sheet. Exponent remains committed to creating long-term value for our shareholders,” commented Dr. Catherine Corrigan, President and Chief Executive Officer.

Exponent, Inc., along with its subsidiaries, is a science and engineering consulting company, providing solutions to complex problems. Exponent's scientists, physicians, engineers, and business consultants analyze accidents and failures to determine their causes. In recent years Exponent has become more active in assisting clients with human health, environmental and engineering issues associated with new products to help prevent problems in the future.