Winnebago Industries (WGO) will raise its quarterly dividend by 9.1 percent to 12 cents per share in 2020. This comes after a 10.0 percent dividend hike to $0.11 per share in the first quarter of 2019. Winnebago has now hiked its dividend for five consecutive years.

The increased dividend will be paid on September 30, 2020, to common stockholders of record at the close of business on September 16, 2020. Winnebago’s current annualized dividend rate of $0.48 per share yields an estimated 0.8% at a stock price of $59.

Winnebago Industries Chief Financial Officer Bryan Hughes stated, “We are pleased to enhance the dividend for our shareholders, and this move reflects our strong financial position and our confidence in the trajectory of our company’s performance, despite the challenges presented by the COVID-19 pandemic. Our products enable people to enjoy an active outdoor lifestyle in a safe manner with family and friends, and we believe this trend will continue and the pursuit of the outdoors will continue to resonate with consumers.”

Winnebago Industries, Inc. is a leading U.S. manufacturer of outdoor lifestyle products under the Winnebago, Grand Design and Chris-Craft brands, which are used primarily in leisure travel and outdoor recreation activities. The company builds quality motorhomes, travel trailers, fifth wheel products and boats. Winnebago Industries has multiple facilities in Iowa, Indiana, Oregon, Minnesota and Florida. Winnebago Industries has paid a dividend to shareholders every year since 2014.