Hyster-Yale Materials Handling (HY) will raise its quarterly dividend by 2.5 percent to $0.31 per share in the second quarter of 2018. Last year the dividend was hiked to $0.325 quarterly.

The next dividend will be paid June 15, 2018 to stockholders of record at the close of business on June 1, 2018. The new dividend is equal to an annual rate of $1.24 per share and results in a dividend yield of 1.8%.

Hyster-Yale Materials Handling, Inc. is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.