Masco Corporation (MAS) will raise its quarterly dividend by 67.9 percent to 23.5 cents per share in 2021. This follows a dividend hike of 3.7 percent to 14 cents per share announced in 2020. The manufacturer of branded home improvement and building products has now increased its dividend for 8 consecutive years.

The next dividend is payable on June 14, 2021, to shareholders of record on May 28, 2021. A new annual rate of 94 cents per share yields 1.5% at a stock price of $64.13. The ex-dividend date for the next MAS dividend is May 27, 2021. 

In the last 8 years Masco has raised its dividend by double digits 4 times, with a 20.0 percent dividend hike in 2014, a 14.3 percent dividend hike in 2018 and a dividend hike of 12.5 percent that was announced in 2019.

The company will now pay an estimated annual dividend of $246 million, up from $147 million, to its shareholders annually.

Masco Corporation is a manufacturer of branded home improvement and building products. The company’s brands include Behr(paint); Delta and Hansgrohe (faucets, bath and shower fixtures); KraftMaid and Merillat (cabinets); Milgard(windows and doors); and HotSpring (spas). The company operates through two business segments: Plumbing Products, and Decorative Architectural Products. Masco is a member of the S&P500-index and has paid a dividend to its shareholders every year since at least 1992. The company became publicly listed in 1969.