IDEX Corp (IEX) will raise its quarterly dividend by 11.1 percent to 60 cents per share in 2022. This follows a dividend hike of 8 percent to 54 cents per share in 2021 and marks the 13th consecutive year of dividend increases by the industrial company.
The next dividend will be paid May 27, 2022 with an ex-dividend date for the next IDEX dividend of May 16, 2022. The company will pay shareholders an annual dividend of $182 million in total. The dividend yield is 1.3% at a stock price of $188 for IEX.
IDEX Corporation is an engineered products company specialized in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products. The company's business segments are: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products. Its FMT segment provides flow monitoring and other services for the food, chemical, water and wastewater, agricultural and energy industries. The HST segment designs and distributes precision fluidics, rotary lobe pumps, roll compaction and drying systems. Its FSDP segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems; engineered stainless steel banding and clamping devices, and precision equipment. Its Fire & Safety platform provides Hurst Jaws of Life, which manufactures the rescue tools. It also designs and manufactures pumps for a variety of markets, including mining, marine, power, water, wastewater and other general industries. IDEX was incorporated in 1987 and has paid a consecutive regular quarterly cash dividend every year since 1995.