Worthington Industries (WOR) will raise its quarterly dividend by 12 percent to $0.28 per share in 2021. This follows a dividend hike of 4.2 percent to $0.25 per share in 2020. This new dividend hike will mark the 11th consecutive year of dividend increases by the metals manufacturing company.
The next dividend is payable on June 29, 2021, to shareholders of record June 15, 2021. A new annualized dividend rate of $1.12 per share yields 1.8% at a stock price of $63.66. Worthington has paid a quarterly dividend since it became a public company in 1968 and will now pay shareholders an estimated $61 million in dividends annually according to calculations by dividendhike.com.
Worthington Industries is a metals manufacturing company. Headquartered in Columbus, Ohio, Worthington serves customers in automotive, construction and agriculture markets. The company manufactures pressure cylinders for propane, refrigerant and industrial gasses and cryogenic applications, water well tanks for commercial and residential uses, CNG and LNG storage, transportation and alternative fuel tanks, oil & gas equipment, and consumer products for camping, grilling, hand torch solutions and helium balloon kits. Also WOR is a manufacturer of operator cabs for heavy mobile industrial equipment; laser welded blanks for light weighting applications; automotive racking solutions; and through joint ventures, complete ceiling grid solutions; automotive tooling and stampings; and steel framing for commercial construction. Worthington has paid a quarterly dividend since it became a public company in 1968.