Advanced Drainage Systems (WMS) will raise its quarterly dividend by 14.3 percent to $0.08 per share in the second quarter of 2018. This follows a 1 cent dividend hike to $0.07 per share last year.

The quarterly cash dividend of $0.08 per share will be paid on June 15, 2018 to shareholders of record at the close of business on June 5, 2018. Based on the current stock price of $28.55 the new dividend yield for WMS is 1.1%.

Advanced Drainage Systems is a manufacturer of thermoplastic corrugated pipe, providing water management products and drainage solutions for use in the construction and infrastructure marketplace. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications.