Thor Industries, Inc. (THO) will raise its quarterly dividend by 5.4 percent to $0.39 per share in the fourth quarter of 2018. The recreational vehicle maker has raised its dividend every year since 2010.

The regular dividend is payable on November 9, 2018, to shareholders of record at the close of business on October 25, 2018. The ex-date for the increased dividend of 39 cents is October 24, 2018.

A new annual dividend of $1.56 per share yields 1.9% at a stock price of $81.22 for Thor Industries. The stock has lost almost 50 percent year-to-date, resulting in a current market cap of  $4.2 billion. Today's action marks the 9th consecutive year of dividend increases by THO.

THOR Industries, Inc. is a manufacturer of recreational vehicles. The company offers motorhomes, camping, fifth-wheel, and travel trailers. Its brands include Airstream, Bison Coach, Jayco, Keystone and Thor Motor Coach. The company’s vehicles are sold primarily throughout the United States and Canada. THOR became a publicly traded company in 1984 and was later listed on the New York Stock Exchange in 1986. THOR Industries has paid a dividend to shareholders every year since at least 1989. The company was founded in 1980 by Wade Thompson and Peter Orthwein with the purchase of Airstream.