Oil-Dri Corporation of America (ODC) will raise its quarterly dividend by 3.8 percent to 27 cents per share in 2021. This comes after a dividend hike of 4.0 percent to $0.26 per share announced in 2020. This declaration marks the 18th consecutive year Oil-Dri has increased dividends.

Oil-Dri’s Board of Directors also declared quarterly cash dividends of $0.27 per share of the Company’s Common Stock and $0.2025 per share of the Company’s Class B Stock, an approximate 4% increase for both classes of stock. The dividends declared on June 9, 2021 will be payable on August 27, 2021 to stockholders of record at the close of business on August 13, 2021. 

The company has paid cash dividends continuously since 1974. This declaration marks the eighteenth consecutive year Oil-Dri has increased dividends.A new annualized dividend rate of $1.08 per share yields 3.0% based on a closing price of $35.63.

Oil-Dri Corporation of America is engaged in developing, manufacturing and/or marketing sorbent products. While granular clay floor absorbents were Oil-Dri’s founding product, it has since diversified its portfolio to include both consumer and business to business product offerings that supply pet care, animal health, fluids purification, agricultural ingredient, sports field, industrial and automotive markets. The company's business segments are Retail and Wholesale Products Group and Business to Business Products Group. Oil-Dri, originally founded in 1941, was incorporated in 1969 and has paid cash dividends continuously since 1974.