Terex Corporation (TEX) will reinstate its quarterly dividend with a 12 cent quarterly payment in 2021. Last year the dividend was suspended in the second quarter of 2020 because of the COVID-19 pandemic.

Prior to that the company raised its quarterly dividend by 9.1 percent to $0.12 per share, marking the 6th consecutive year of dividend increases by the manufacturer of lifting and material processing products and services

The next dividend will be payable on March 19, 2021 to shareholders and unitholders of record at the close of business on March 5, 2021. The annual dividend rate of $0.48 per share yields 1.3% at a stock price of $38.93.

Terex Corporation is a manufacturer of lifting and material processing products and services. The company has two business segments: Aerial Work Platforms and Materials Processing. Terex provides solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. The company has paid a dividend every year since 2013.