Dividend Aristocrat Emerson Electric (EMR) will increase its quarterly dividend by 1.1 percent. The quarterly dividend will be hiked from $0.475 to $0.48 per share, marking 60 years of consecutive dividend increases.

"We expect 2017 to be another challenging year in what has become an unprecedentedly long industrial downturn characterized by market volatility, economic uncertainty and lower industrial spending," said Chairman and Chief Executive Officer David N.Farr. "Despite these conditions, our focus remains on driving premium value for our customers, employees and shareholders; and I firmly believe we have undertaken the right initiatives to position Emerson to deliver. We will accomplish this goal by balancing restructuring against required investment in core technologies, targeting increased earnings per share, driving top-line sales through organic gains and acquisitions, and delivering a consistent, dependable and growing dividend supported by strong cash flow generation."

Emerson Electric has an indicated dividend yield of 3.8% based on today's closing price of $51. The stock has gained 6.6% in 2016, following double digit declines in 2015 and 2014.

Emerson Electric Co. (Emerson) provides technology and engineering solutions for customers in a wide range of industrial, commercial and consumer markets around the world. The company's segments are Automation Solutions, and Climate Technologies and Tools & Home Products which together comprise the Commercial & Residential Solutions business. Emerson was founded in 1890 in St. Louis, Missouri, as a manufacturer of electric motors and fans and has increased its dividend every year since 1956.