Oil-Dri Corporation of America (ODC) will raise its quarterly dividend by 4.5 percent to $0.23 per share.

The first new dividend will be payable on September 1, 2017 to stockholders of record at the close of business on August 18, 2017. The Company has paid cash dividends continuously since 1974. Today’s declaration marks the fourteenth consecutive year Oil-Dri has increased dividends.

Oil-Dri Corporation of America is engaged in developing, manufacturing and/or marketing sorbent products. While granular clay floor absorbents were Oil-Dri’s founding product, it has since diversified its portfolio to include both consumer and business to business product offerings that supply pet care, animal health, fluids purification, agricultural ingredient, sports field, industrial and automotive markets.