MSC Industrial Direct Co (MSM) will raise its quarterly dividend by another 8.6 percent to $0.63 per share in the fourth quarter of 2018. This brings the total dividend increase this year to a whopping 31.3 percent for the distributor of metalworking products.

The next dividend is payable on November 27, 2018 to shareholders of record at the close of business on November 13, 2018. The ex-dividend date for this next dividend of 63 cents is November 9, 2018.

A new annual dividend of $2.52 per share yields 3.1% at a current stock price of $80.65. The company has now increased its dividend for 15 consecutive years.

MSC Industrial Direct Co., Inc. is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The company serves customers throughout the United States, Canada and the United Kingdom. Its products include abrasives, fasteners, hand tools, power tools, plumbing tools, tapes and adhesives, HVAC equipment, lubricants and welding products. MSM initiated its quarterly dividend in 2003.