Outboard engine and boat manufacturer Brunswick Corporation (BC) will increase its quarterly dividend by 10.5 percent to $0.21 per share in the fourth quarter of 2018. This follows a 2 dividend hike by BC to 19 cents per share quarterly last year.

The increased dividend will be payable on December 14, 2018, to shareholders of record at the close of business on November 20, 2018. The new annual dividend of 84 cents per share yields 1.4 percent at a stock price of $61.79.

This marks Brunswick's sixth consecutive year of quarterly dividend increases since 2013. Brunswick has paid dividends on a quarterly basis since 2014. Previously, the Company had paid dividends to shareholders on an annual basis from 2002 - 2014.

"Our ability to increase the dividend is evidence of the overall strength of our business, the successful execution of our capital strategy, and the momentum of our product leadership and operational excellence initiatives," explained Brunswick Chairman and Chief Executive Officer Mark Schwabero.

Brunswick Corporation is a manufacturer of recreational marine products, including marine propulsion products, parts and accessories, and boat brands, and operate service and shared access businesses, including the boat club. The company's brands include Mercury, Mariner, MotorGuide, Ancor, Attwood, BEP, Blue Sea Systems, Czone, Del City, Garelick, Lenco Marine, Marinco, Mastervolt, Mercury, NAUTIC-ON, Park Power, Progressive Industries, ProMariner, Quicksilver, Whale, Land 'N' Sea, Kellogg Marine, Lankhorst Taselaar, Payne's Marine, BLA, Bayliner, Boston Whaler, Brunswick, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet, Uttern boats, Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, SCIFIT and Brunswick billiards tables, accessories and game room furniture. Brunswick Corporation is a Delaware corporation incorporated on December 31, 1907. In 1925 Brunswick was listed on the New York Stock Exchange. Earlier Brunswick was also focused on selling products for active aging, rehabilitation, productive well-being, a complete line of billiards tables and other game room tables and accessories. In 2015 Brunswick completed the sale of its Bowling Products business.