Benchmark Electronics, Inc. (BHE) will increase its quarterly dividend by 6.7 percent from 15 cents to 16 cents per common share. This is the first increase by the company since it initiated a dividend in 2018.
The quarterly dividend is equivalent to an annual dividend of $0.64 per share and yields 2.0% at a stock price of $30.21. The company did not yet announce a pay date or record date for this next dividend.
From today's press release: "Benchmark's management team and board of directors continue to firmly believe in the long-term growth prospects of the company. We believe we have the financial strength and liquidity to support increasing the quarterly cash dividend and remain committed to returning value to shareholders," said Jeff Benck, CEO and President.
Benchmark provides comprehensive solutions across the entire product life cycle; leading through its innovative technology and engineering design services; leveraging its optimized global supply chain; and delivering world-class manufacturing services in the following industries: commercial aerospace, defense, advanced computing, next generation telecommunications, complex industrials, medical, and semiconductor capital equipment. Benchmark's global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.