Donaldson hikes dividend by 4.8%

Donaldson Company (DCI) will raise its quarterly dividend by 4.8 percent to 22 cents per share in 2021. The US manufacturer of filtration systems did not announce a dividend hike in 2020 but did hike by 10.5 percent to $0.21 per share quarterly in 2019. This marks the 35th consecutive year of dividend increases based on calendar years by DCI based on calculations by dividendhike.com. The company has paid a cash dividend every quarter for 65 years.

The next dividend is payable June 25, 2021, to shareholders of record on June 10, 2021. A new annual rate of 88 cents per share yields 1.4% at a stock price of $60.92 for DCI.

Donaldson Company, Inc. is a manufacturer of filtration systems and replacement parts. The company has two operating segments: Engine Products and Industrial Products. Donaldson's products include replacement filters, air filtration systems, liquid filtration systems, dust, fume and mist collectors, compressed air purification systems, gas and liquid filtration for food, beverage and industrial processes, air filtration systems for gas turbines, polytetrafluoroethylene (PTFE) membrane-based products and specialized systems for applications including hard disk drives and semi-conductor manufacturing. Donaldson Company was founded in 1915 and has paid a dividend every year since 1956.