Alamo Group (ALG) will raise its quarterly dividend by 28.6% to $0.18 per share in 2022. The dividend yield for ALG is 0.5% at a stock price of $149. The ex-dividend date is January 17, 2022.

The next dividend payment will be made on February 1, 2022 to shareholders of record at the close of business on January 18, 2022. Alamo has now raised its dividend 8 consecutive years with a 12.5 percent average annual dividend hike in the last five years. Currently ALG will pay shareholders an estimated $9 million in dividends annually.

Alamo Group is a manufacturer and distributor of equipment for infrastructure maintenance, agriculture and other applications. The company's products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements and related after-market parts and services. Alamo operates plants in North America, Europe, Australia and Brazil. The company was founded in 1969. Alamo's corporate offices are located in Seguin, Texas. Alamo Group has been paying a dividend to shareholders every year since 1993.