Dividend Aristocrat A.O. Smith Corporation (AOS) will raise its quarterly dividend by 7.7 percent to 28 cents per share in 2021, marking 28 consecutive years of dividend increases. Last year AOS hiked its dividend by 8.3 percent to 26 cents per share.

The next A.O. Smith dividend will be payable on November 15, 2021 to shareholders of record October 29, 2021. A new annual rate of $1.12 per share yields 1.7% at a stock price of $65.61. The new annual dividend payment will jump to $178 million for AOS. The average 5 year dividend growth rate for AOS is 18.5 percent annually if we include this latest hike.

A.O. Smith is manufacturer of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products for residential and light commercial applications. In North America, A.O. Smith also manufactures expansion tanks, commercial solar water heating systems, swimming pool and spa heaters, related products and parts. The company is headquartered in Milwaukee, WI, and has operations in the U.S., Canada, China, India, Mexico, the Netherlands, Turkey, the United Kingdom and Vietnam. A. O. Smith Corporation has paid cash dividends on its common stock every year since 1940.