Methode Electronics (MEI) will raise its quarterly dividend by 22.2 percent to $0.11 per share in the first quarter of 2018. It's the first increase since 2014 for MEI.
The new dividend will be paid on January 26, 2018, to common stockholders of record at the close of business on January 12, 2018.
President and Chief Executive Officer Donald W. Duda said, “Consistent with our commitment of returning capital to our stockholders, we are pleased to increase our quarterly cash dividend 22 percent. Our business continues to generate strong operating cash flows, enabling us to continue to invest in strategic growth opportunities, while also returning capital to stockholders and improving shareholder value.
Methode Electronics, Inc. is a global developer of custom engineered and application specific products and solutions. The company designs, manufactures and markets devices employing electrical, electronic, wireless, safety radio remote control, sensing and optical technologies to control and convey signals through sensors, interconnections and controls. Our components are in the primary end markets of the automobile, computer, information processing and networking equipment, voice and data communication systems, consumer electronics, appliances, aerospace vehicles and industrial equipment industries. MEI has manufacturing, design and testing facilities in Belgium, Canada, China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, the United Kingdom and the United States.