nVent Electric PLC (NVT) will start paying a quarterly dividend of $0.175 per share in Q3 of 2018.

Earlier this year the company was spun-off from Dividend Aristocrat Pentair (PNR).

nVent's first regular quarterly cash dividend of $0.175 per share will be paid on August 17, 2018 to shareholders of record at the close of business on August 3, 2018. The annual dividend yields 2.8% at a stock price of $26.70.

“We believe this dividend is very competitive amongst our peers and is an important step toward our goal of delivering top-tier returns to our shareholders,” said nVent Chief Executive Officer Beth Wozniak.

nVent Electric plc is engaged in providing electrical connection and protection solutions. The company manufactures and services high performance products and solutions that connect and protect sensitive equipment, buildings, and critical processes. Its products include enclosures, electrical connections and fastening, and thermal management solutions. nVent's portfolio of electrical product brands includes nVent, Caddy, Erico, Hoffman, Raychem, Schroff and Tracer.