The Timken Company (TKR) will raise its quarterly dividend by 3.3 percent to 31 cents per share in 2022. This follows a dividend hike of 3.4 by Timken last year and marks 9 years in a row of increased dividends.

The next TKR dividend is payable on June 2, 2022, to shareholders with an ex-dividend date of  May 13, 2022. The new dividend yield for TKR is 2.1% at a stock price of $5.9. Timken currently has a market cap of $4.4 billion. The Timken Company joined the New York Stock Exchange in 1922, one of the longest-running dividend records among NYSE-listed companies.

The Timken Company engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, and related products, and offers a spectrum of powertrain rebuild and repair services. The company's industrial brands include Timken, Fafnir, Philadelphia Gear, Groeneveld, Drives and Lovejoy. The Timken Company joined the New York Stock Exchange in 1922 and has one of the longest-running dividend records among NYSE-listed companies.