Simpson Manufacturing (SSD) will raise its quarterly dividend by 8.7 percent to 25 cents per share in 2021. This follows a dividend hike of 4.5 percent to $0.23 per share in 2019. This will also mark the 8th consecutive year of annual dividend increases by the construction products manufacturer.

The next dividend will be payable on July 22, 2021 to stockholders of record as of July 1, 2021. A new annualized dividend rate of $1.00 per share yields 0.9% at a stock price of $111.50.

Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials.