Tempur Sealy International, Inc. (TPX) will hike its dividend by 11.1 percent to 10 cents per share quarterly in 2022. This follows a dividend hike of 28.6 percent to 9 cents quarterly last year. The bedding products maker started paying a quarterly dividend of 7 cents per share to shareholders in 2021.

The next TPX dividend is payable on March 22 to shareholders of record as March 8, 2022. An annualized dividend rate of 40 cents per share will yield 1.3% at a stock price of $30.14.

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.