Oil-Dri Corporation of America (ODC) will raise its quarterly dividend by 4.0 percent to $0.26 per share in 2020. Last year the company also hiked its dividend by one cent to $0.25 quarterly. This declaration marks the 17th consecutive year Oil-Dri has increased dividends.

The next dividend will be payable on August 28, 2020 to stockholders of record at the close of business on August 14, 2020. A new annualized dividend rate of $1.04 per share yields 3.0% based on today's closing price of $35.06.

Oil-Dri Corporation of America is engaged in developing, manufacturing and/or marketing sorbent products. While granular clay floor absorbents were Oil-Dri’s founding product, it has since diversified its portfolio to include both consumer and business to business product offerings that supply pet care, animal health, fluids purification, agricultural ingredient, sports field, industrial and automotive markets. The company's business segments are Retail and Wholesale Products Group and Business to Business Products Group. Oil-Dri, originally founded in 1941, was incorporated in 1969 and has paid cash dividends continuously since 1974.