RPM International | 5.3 percent dividend hike in 2021

RPM International dividend increase 2021
RPM International is proud of the dividend history

Dividend champion RPM International (RPM) will raise its dividend by 5.3 percent to 40 cents per share quarterly in 2021. This will mark 48 years in a row of dividend increases by the paint and sealants maker.

The quarterly dividend will be increased to $0.40 per share by RPM, marking the 48th consecutive year of higher dividends. The new dividend yield for RPM International is 2.0% at a stock price of $80. This action marks RPM’s 48th consecutive year of increased cash dividends paid to its stockholders, which places RPM in an elite category of less than half of 1 percent of all publicly traded U.S. companies. Only 41 other companies, besides RPM, have consecutively paid an increasing annual dividend for this period of time or longer, according to the Mergent Handbook of Dividend Achievers. During this timeframe, the company has returned approximately $2.8 billion in cash dividends to its stockholders

The higher RPM dividend will be payable on October 29, 2021, to stockholders of record as of October 18, 2021. The dividend yield will jump to 2.0% at current stock prices.

“Increasing our cash dividend on an annual basis is one of the primary ways we continuously reward our shareholders,” stated Frank C. Sullivan, RPM chairman and CEO. “Combined with an appreciating stock price, increasing the dividend enables us to consistently deliver long-term value and outperform the cumulative total return of the broader market.”

RPM International Inc. currently has a $10.4 billion market cap. The stock is down 12 percent year-to-date. The company is known for its shareholder friendly approach to dividends and mentions this in its annual report with slogans such as 'these brands pay dividends'.

RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. RPM’s industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. The 4 RPM segments are: Consumer Group (CG), Construction Products Group (CPG), Performance Coatings Group (PCG) and Specialty Products Group (SPG). The company has a diverse portfolio of brands, including Rust-Oleum, DAP, Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit.

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