RPM International (RPM) will raise its quarterly dividend by 2.9 percent to $0.36 per share in 2019, marking the 46th consecutive year of annual dividend increases.

The next dividend is payable on October 31, 2019, to stockholders of record as of October 15, 2019. A new annual rate of $1.44 per share yields 2.1% at a stock price of $68.51.

“Increasing our cash dividend on an annual basis is one of the principal ways we reward our shareholders,” stated Frank C. Sullivan, RPM chairman and chief executive officer. “Combined with an appreciating stock price, increasing the dividend enables us to consistently deliver long-term growth and outperform the cumulative total return of the broader market.”

RPM International Inc. is a manufacturer of specialty coatings, sealants, building materials and related services. The company's four reportable segments are Construction Products, Performance Coatings, Consumer and Specialty Products. RPM's brands include API, Carboline, CAVE, DAP, Day-Glo, Dri-Eaz, Dryvit, Euclid, EUCO, Fibergrate, Flecto, Flowcrete, Grupo PV, Hummervoll, illbruck, Mohawk, Rust-Oleum, Stonhard, TCI, Toxement, Tremco, Tuf-Strand, Universal Sealants, Viapol, Watco and Zinsser. RPM was founded in 1947 and typically pays its quarterly dividends on the 31st of July, October and January and the 30th of April.