WD-40 (WDFC) will raise its quarterly dividend by 9.8 percent to $0.67 per share in 2020. This increase represents the 10th consecutive year the company has raised its annual dividend.

The next quarterly dividend is payable January 31, 2020 to stockholders of record at the close of business on January 17, 2020. A new annualized dividend rate of $2.68 per share yields 1.4% at a stock price of $194.

WD-40 Company develops and sells maintenance products, and homecare and cleaning products which solve problems in workshops, factories and homes. The company sells its products worldwide primarily through warehouse club stores, automotive parts outlets, hardware stores, industrial distributors and suppliers, mass retail and  home center stores, grocery stores, value retailers, farm supply, sport retailers, independent bike dealers and online retailers. Maintenance products are sold worldwide in markets throughout North, Central and South America, Asia, Australia, Europe, the Middle East and Africa. Homecare and cleaning products are sold primarily in North America, the United Kingdom and Australia. The company’s brands include WD-40, 3-IN-ONE, GT85, X-14, 2000 Flushes, Carpet Fresh, no vac, Spot Shot, 1001, Lava and Solvol. WD-40, headquartered in San Diego, has been listed on the stock market since 1973 and was founded in 1953 when Rocket Chemical Company and its staff of three set out to create a line of rust-prevention solvents and degreasers for use in the aerospace industry. It took them 40 attempts to get their water displacing formula to work, but on the 40th attempt, they got it right in a big way. WD-40 was born. WD-40 stands for Water Displacement, 40th formula.