Griffon Corporation (GFF) will raise its quarterly dividend by twenty percent to $0.06 per share in the fourth quarter of 2016.

The increased dividend is payable on December 22, 2016 to shareholders of record as of the close of business on December 5, 2016.

Today's dividend increase indicates an annualized rate of $0.24 per common share and a yield of approximately 1.2% based on the $20.40 closing price on November 16, 2016.

Griffon Corporation, founded in 1959, is a holding company. The company’s Home & Building Products consists of three companies, The AMES Companies, Inc., Clopay Building Products Company, Inc. and ClosetMaid LLC. Through these wholly-owned subsidiaries the company makes products such as garage doors, long-handled tools, landscaping products and storage products. The company’s Telephonics segment is a provider of intelligence, surveillance and communications solutions for defense, aerospace and commercial customers.