IDEX Corp (IEX) will raise its quarterly dividend by 8 percent to 54 cents per share in 2021. This follows a dividend hike of 16.3 percent to $0.50 per share announced in 2019. This marks the 12th consecutive year of dividend increases by the industrial company. Furthermore his dividend represents the company’s 106th consecutive regular quarterly cash dividend payment.
The next dividend will be paid May 28, 2021 to shareholders of record as of May 24, 2021. A new annual rate of $2.16 per share yields 1.0% at a stock price of $218.65. The ex-dividend date for the next IDEX dividend was not yet announced. The company will pay shareholders an annual dividend of $164 million.
IDEX Corporation is an engineered products company specialized in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products. The company's business segments are: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products. Its FMT segment provides flow monitoring and other services for the food, chemical, water and wastewater, agricultural and energy industries. The HST segment designs and distributes precision fluidics, rotary lobe pumps, roll compaction and drying systems. Its FSDP segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems; engineered stainless steel banding and clamping devices, and precision equipment. Its Fire & Safety platform provides Hurst Jaws of Life, which manufactures the rescue tools. It also designs and manufactures pumps for a variety of markets, including mining, marine, power, water, wastewater and other general industries. IDEX was incorporated in 1987 and has paid a consecutive regular quarterly cash dividend every year since 1995.