Specialty trucks maker Oshkosh Corp (OSK) will raise its quarterly dividend by 12.5 percent to $0.27 per share in the fourth quarter of 2018.

This follows a 3 cent per share dividend hike to 24 cents quarterly last year.

The increased dividend will be payable on December 3, 2018, to shareholders of record as of November 19, 2018.

The new dividend yield for the company is 1.6% at a stock price of $64.85.

Oshkosh Corporation is a manufacturer of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle bodies. The company's brands include Oshkosh, JLG, Pierce, McNeilus, Jerr-Dan, Frontline, CON-E-CO, London and IMT. Founded in 1917, Oshkosh Corporation has manufacturing operations in seven U.S. states and in Australia, Canada, China, France, Mexico, Romania and the United Kingdom.