H.B. Fuller (FUL) will raise its quarterly dividend by 1.6 percent to $0.1625 per share in the second quarter of 2020. This follows a 3.2 percent dividend hike by the specialty chemicals company announced in 2019.

The dividend of $0.1625 per share of common stock is payable on April 30, 2020 to shareholders of record at the close of business on April 16, 2020. The new annual dividend of 64 cents yields 1.3% at a stock price of almost $50 for H.B. Fuller

"Today's announcement that we are increasing our dividend for the 51st consecutive year demonstrates our confidence in the resiliency of our cash flows," said Jim Owens, president and chief executive officer in the company's press release announcing this dividend hike. "As a global leader in adhesives, H.B. Fuller plays an important role in the supply of essential hygiene, health, and consumer products in the fight against COVID-19, and we are using our vast global resources to meet increased demand for these products. Our operating plans also anticipate negative impacts of the pandemic in other areas of our business. Reduced working capital, the diversity of our products and end markets, and our operating agility are expected to drive continued strong cash flow performance in 2020. We have more than adequate liquidity, and the fundamentals of our business strategy remain solidly intact."

H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. Industrial adhesives represent the company's core product offering. Customers use the company's adhesives products in manufacturing common consumer and industrial goods, including food and beverage containers, disposable diapers, windows, doors, flooring, roofing, appliances, sportswear, footwear, multi-wall bags, water filtration products, insulation, textiles, automobiles, recreational vehicles, buses, trucks and trailers, marine products, solar energy systems, electronics and products for the aerospace and defense industries. H.B. Fuller operates worldwide with businesses in North America, Europe, Latin America, the Asia Pacific region, India, the Middle East and Africa. The company was founded in 1887 and incorporated as a Minnesota corporation in 1915.