Valvoline (VVV) will raise its quarterly dividend by 6.6 percent to $0.113 per share in2019. The lubricants maker hiked its dividend by 42.3 percent last year.
 

The increased dividend will be payable on December 16, 2019, to shareholders of record as of the close of business on November 29, 2019.. The new annualized dividend rate of 45 cents per share yields 2.0% at a stock price of $23.00 for VVV.
 

Valvoline Inc. is a worldwide marketer and supplier of engine and automotive maintenance products and services.  Established in 1866, Valvoline’s heritage spans over 150 years, during which it was the petroleum industry’s first U.S. trademarked motor oil brand and has developed powerful name recognition across multiple product and service channels. In addition to the iconic Valvoline-branded passenger car motor oils and other automotive lubricant products, Valvoline provides a wide array of lubricants used in heavy duty equipment, as well as automotive chemicals and fluids designed to improve engine performance and lifespan. The company operates and franchises Valvoline Instant Oil Change centers in the United States. It also markets Valvoline lubricants and automotive chemicals, MaxLife lubricants, SynPower synthetic motor oil and Zerex antifreeze. Valvoline was incorporated in May 2016 as a subsidiary of Ashland Global Holdings Inc. (ASH). Prior to this time, Valvoline operated as an unincorporated commercial unit of Ashland.