LCI Industries hikes dividend by 20%

LCI Industries (LCII) will raise its quarterly dividend by 20 percent to 90 cents per share in 2021. This follows a dividend hike of 15.4 percent to 75 cents per share in 2020 and marks the 5th consecutive year of dividend increases for the recreational vehicles components maker.

The next dividend is payable on June 18, 2021, to stockholders of record at the close of business on June 4, 2021. A new annualized rate of $3.60 per share yields 2.6% at a stock price of $141.

LCI Industries, formerly Drew Industries, supplies components for original equipment manufacturers of recreational vehicles; buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing through its wholly-owned subsidiary, Lippert Components Inc. The company also supplies components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors and service centers. LCI’s products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. The company has paid a regular quarterly dividend to shareholders every year since 2016 and also paid special dividends before the initiation in 2016.