Drew Industries (DW) will raise its quarterly dividend to $0.50 per share. Earlier this year a $0.30 per share regular quarterly dividend was initiated by supplier of components for equipment manufacturers of recreational vehicles and adjacent industries.

The increased dividend is payable on December 9, 2016, to stockholders of record at the close of business on November 28, 2016.

"This increase to our regular quarterly dividend demonstrates the Board of Directors' and management's continued confidence in the Company's consistent financial performance, as well as our optimistic outlook as we approach 2017," said Drew's CEO, Jason Lippert. "Our strong balance sheet and consistent cash flow thus far through 2016 position us to continue the successful execution of our strategy to grow sales through acquisitions, greater market share, and innovative new products, as well as enable us to return more cash to shareholders."

Today's dividend increase indicates an annualized rate of $2.00 per common share and a yield of approximately 2.0% based on the $99.60 closing price on November 17, 2016.

Drew Industries supplies components for original equipment manufacturers of recreational vehicles; buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular. The Company also supplies components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors and service centers.