Brady Corp raises dividend for 36th consecutive year
|Brady will increase its dividend by 2.3 percent in 2021|
Brady Corporation (BRC) will raise its quarterly dividend for the 36th year in a row in 2021. The manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people ups the quarterly payment by 2.3 percent to 22.5 cents per share.
Brady Corporation’s Board of Directors approved an increase in the annual dividend to shareholders of the Company’s Class A Common Stock from $0.88 per share to $0.90 per share. A quarterly dividend to shareholders of the Company’s Class A Common Stock of $0.225 per share will be paid on October 29, 2021, to shareholders of record at the close of business on October 8, 2021. This dividend represents the 36th consecutive annual increase in dividends.
DIVIDEND HIKE PER YEAR FOR BRADY CORP
- 2021: +2.3%
- 2020: +1.1%
- 2019: +2.4%
- 2018: +2.4%
- 2017: +1.2%
A new annualized rate of $0.90 per share yields 1.8% at a stock price of $50.94 for BRC. The next ex-dividend date for Brady Corporation is October 7, 2021. Last year Brady hiked its dividend by 1.1 percent. The company now pays an estimated $47 million in dividends to shareholders annually. The average dividend growth rate in the last five years is 1.9 percent annually.
Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. Founded in 1914, the Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady is headquartered in Milwaukee, Wisconsin and as of July 31, 2020, employed approximately 5,400 people in its worldwide businesses. Brady’s fiscal 2020 sales were approximately $1.08 billion. Brady stock trades on the New York Stock Exchange under the symbol BRC.