Simpson Manufacturing (SSD) will raise its quarterly dividend by 4.5 percent to $0.23 per share in 2019. This will mark the 6th consecutive year of annual dividend increases by the construction products manufacturer.

The next dividend will be payable on July 25, 2019 to stockholders of record as of July 3, 2019. A new annualized dividend rate of 92 cents yields 1.4% at a stock price of $63.67.

Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials.