Lennox International (LII) will raise its quarterly dividend by 18.6 percent to $0.51 per share. This follows a 7 cent per share dividend boost to 43 cents by the HVACR company last year. The next dividend is payable on July 17, 2017, to stockholders of record as of June 30, 2017.

Lennox International Inc. is a provider of climate control solutions. The company designs, manufactures and markets products for the heating, ventilation, air conditioning and refrigeration (“HVACR”) markets. The company's business segments are Residential Heating & Cooling, Commercial Heating & Cooling and Refrigeration. Lennox International was founded in 1895, in Marshalltown, Iowa, by Dave Lennox, the owner of a machine repair business for railroads. He designed and patented a riveted steel coal-fired furnace, which led to numerous advancements in heating, cooling and climate control solutions.