Tempur Sealy International, Inc. (TPX) will hike its dividend by 28.6 percent to 9 cents quarterly. Earlier this year the bedding products maker started paying a quarterly dividend of 7 cents per share to shareholders.

The next dividend is payable on August 26, 2021 to shareholders of record as of August 12, 2021. An annualized dividend rate of 36 cents per share will yield 0.8% at a stock price of $43.27.

Tempur Sealy International, Inc. is a bedding and bedding products manufacturer. The company's two segments are North America and International. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the United States and Canada. Its International segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America. Brands include TEMPUR, Tempur-Pedic, Sealy, Sealy Posturepedic, and Stearns & Foster. Tempur Sealy initiated a quarterly dividend in 2021.