Valmont Industries (VMI) will hike its quarterly dividend by 11.1 percent to 50 cents per share in 2021. This follows a dividend hike of 20.0 percent to 45 cents per share in 2020. This is only the second dividend increase by the company since 2014.

The next dividend will be payable on April 15, 2021 to shareholders of record on March 26, 2021. A new annual dividend rate of $2.00 per share yields 0.9% at a stock price of $228 for VMI. The ex-dividend date for Valmont Industries is March 25, 2021.

Valmont is a global leader, designing and manufacturing engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its irrigation equipment and services for large-scale agriculture improve farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service life of steel and other metal products.