Masco Corporation (MAS) will raise its quarterly dividend by 3.7 percent to 14 cents per share in 2020. This follows a dividend hike of 12.5 percent to $0.135 per share announced by the manufacturer of branded home improvement and building products in 2019. Masco has now increased its quarterly dividend for 7 consecutive years.
The next dividend is payable on November 9, 2020, to shareholders of record on October 9, 2020. A new annual rate of 56 cents per share yields 1.0% at a stock price of $57.69.
In the last seven years Masco has raised its dividend by double digits three times, with a 20.0 percent dividend hike in 2014, a 14.3 percent dividend hike in 2018 and a dividend hike of 12.5 percent that was announced last year.
| Masco Corp (MAS) | |
| Stock price (Sept 21) | $55.32 |
| YTD Return | +15.3% |
| 2019 Return | +64.1% |
| Market Cap | $15.1 billion |
| Annual dividend | $147 million |
| Ex-dividend date | 8-Oct |
| Dividend 10 yr CAGR | +6.1% |
| www.dividendhike.com | |
The company will now pay an estimated annual dividend of $147 million to its shareholders annually. This compares to a market cap of $15 billion for Masco. Year-to-date the stock price has gained 20.0 percent, following a 64.1 percent stock price gain for Masco in 2019.
Masco Corporation is a manufacturer of branded home improvement and building products. The company’s brands include Behr(paint); Delta and Hansgrohe (faucets, bath and shower fixtures); KraftMaid and Merillat (cabinets); Milgard(windows and doors); and HotSpring (spas). The company operates through two business segments: Plumbing Products, and Decorative Architectural Products. Masco is a member of the S&P500-index and has paid a dividend to its shareholders every year since at least 1992. The company became publicly listed in 1969.
2022