Thor Industries (THO) will raise its quarterly dividend by 10.0 percent to $0.33 per share in the fourth quarter of 2016. Recreational vehicles maker Thor has hiked its dividend every year since 2010.

The regular dividend is payable on November 7, 2016, to shareholders of record at the close of business on October 24, 2016. The ex-date for this next dividend of 33 cents is October 20, 2016. Thor Industries, one of the world's largest manufacturers of recreational vehicles, currently has an estimated dividend yield of 1.6%.

"The latest increase to our regular quarterly dividend marks the seventh consecutive annual increase in our quarterly dividend, illustrating the confidence shared by our management team and Board in the future of Thor and our continued commitment to returning cash to shareholders," said Peter B. Orthwein, Thor Executive Chairman. "Fiscal 2016 was a year of great accomplishments, with the acquisition of Jayco and significant growth in revenues and earnings, resulting from the hard work of the entire Thor team. As we look forward to Fiscal 2017, we are optimistic as the RV market continues to grow, with new consumers enjoying our products and increasing the size of our overall market."

THOR Industries, Inc. is a manufacturer of recreational vehicles. The company offers motorhomes, camping, fifth-wheel, and travel trailers. Its brands include Airstream, Bison Coach, Jayco, Keystone and Thor Motor Coach. The company’s vehicles are sold primarily throughout the United States and Canada. THOR became a publicly traded company in 1984 and was later listed on the New York Stock Exchange in 1986. THOR Industries has paid a dividend to shareholders every year since at least 1989. The company was founded in 1980 by Wade Thompson and Peter Orthwein with the purchase of Airstream.