Nordson Corporation (NDSN) will raise its quarterly dividend by 8.6 percent to $0.38 per share in 2019. This marks the 56th consecutive annual dividend increase by the dispensing systems maker.

The dividend is payable on September 10, 2019 to shareholders of record as of the close of business on August 27, 2019. A new annual rate of $1.52 per share yields 1.1% at a stock price of $136.84.

According to the company Nordson’s fiscal year 2019 represents its 56th consecutive year of annual dividend increases, ranking Nordson 14th among an elite group of publicly traded companies with the longest-running record of consecutive dividend increases.

Nordson Corporation is a manufacturer of products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. Nordson serves consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and general product assembly and finishing.  The company's products are marketed through a network of direct operations in more than 35 countries. Principal manufacturing facilities are located in the United States, the People’s Republic of China, Germany, Ireland, Israel, Mexico, the Netherlands, Thailand, and the United Kingdom. Nordson was incorporated in 1954 and is headquartered in Westlake, Ohio.