Thor Industries, Inc. (THO) will raise its quarterly dividend by 2.5 percent to 41 cents per share in 2020. This follows a 2.6 percent dividend hike to $0.40 per share in 2019. The recreational vehicle maker has raised its dividend every year since 2010.

The next dividend is payable on November 6, 2020, to shareholders of record at the close of business on October 23, 2020. A new annual rate of $1.64 per share yields 1.7% at a stock price of $96.59.

THOR Industries, Inc. is a manufacturer of recreational vehicles. The company offers motorhomes, camping, fifth-wheel, and travel trailers. Its brands include Airstream, Bison Coach, Jayco, Keystone and Thor Motor Coach. The company’s vehicles are sold primarily throughout the United States and Canada. THOR became a publicly traded company in 1984 and was later listed on the New York Stock Exchange in 1986. THOR Industries has paid a dividend to shareholders every year since at least 1989. The company was founded in 1980 by Wade Thompson and Peter Orthwein with the purchase of Airstream.