Masco hikes dividend by 19.1%

Masco Corporation (MAS) will raise its quarterly dividend by 19.1 percent to 28 cents per share in 2022. This comes after a big hike of 67.9 percent to 23.5 cents per share in 2021. The manufacturer of branded home improvement and building products has now increased its dividend for 9 consecutive years.

The next MAS dividend is payable on March 14, 2022 to shareholders of record on February 25, 2022. A new annual rate of $1.12 per share yields 1.9% at a stock price of $64.13. The ex-dividend date for the next MAS dividend is February 24, 2022.

“This dividend increase is consistent with our capital allocation strategy to target a dividend payout ratio of approximately 30 percent, and underscores the strength of our financial position, our ability to generate consistent, strong free cash flow, and the Board’s confidence in our future,” concluded Allman.

Masco Corporation is a manufacturer of branded home improvement and building products. The company’s brands include Behr(paint); Delta and Hansgrohe (faucets, bath and shower fixtures); KraftMaid and Merillat (cabinets); Milgard(windows and doors); and HotSpring (spas). The company operates through two business segments: Plumbing Products, and Decorative Architectural Products. Masco is a member of the S&P500-index and has paid a dividend to its shareholders every year since at least 1992. The company became publicly listed in 1969.