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MSC Industrial Direct Co (MSM) will raise its quarterly dividend by 20.8 percent to $0.58 per share. This follows a 6.7 percent dividend hike in Q4 of 2017.

The $0.58 dividend is payable on January 30, 2018 to shareholders of record at the close of business on January 16, 2018. The ex-dividend date is January 12, 2018.

MSC Industrial Direct Co., Inc. is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The company serves customers throughout the United States, Canada and the United Kingdom. Its products include abrasives, fasteners, hand tools, power tools, plumbing tools, tapes and adhesives, HVAC equipment, lubricants and welding products. MSM initiated its quarterly dividend in 2003.