Alamo Group (ALG) will raise its quarterly dividend by 16.7 percent to $0.07 per share in 2013. This is the first dividend hike since 1998 by the equipment manufacturer.

Alamo Group is a manufacturer and distributor of equipment for infrastructure maintenance, agriculture and other applications. The company's products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements and related after-market parts and services. Alamo operates plants in North America, Europe, Australia and Brazil. The company was founded in 1969. Alamo's corporate offices are located in Seguin, Texas.