AAON Inc (AAON) will raise its semi-annual dividend to $0.13 per share. The next dividend will be payable on December 23, 2016, to stockholders of record as of the close of business on December 2, 2016.

Norman H. Asbjornson, AAON CEO, stated, "We continue to have a strong capital position with significant free cash flow and are pleased to return tangible value to our stockholders through the increased cash dividend."

Mr. Asbjornson continued, "We are especially pleased our strong performance allows our stockholders to share in the Company's success through increased dividend payouts, while the Company simultaneously maintains its significantly increased 2016 capital expenditure program."

AAON, a maker of air conditioning and heating equipment, currently has a 0.9% dividend yield based on Tuesday's $28.35 closing price.

AAON, Inc. is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps and coils. The company's products serve the commercial and industrial new construction and replacement markets. AAON was incorporated on August 18, 1987 and has paid a dividend to shareholders every year since 2006.