On September 22, 2023, Espey Manufacturing & Electronics (ESP) announced a 50% dividend hike to $0.15 quarterly per share. This is the first dividend hike by Espey since the quarterly dividend was reinstated at $0.10 per share this March. Espey suspended its dividend in 2021.
At a stock price of $16.26 the dividend yield for ESP is 3.7%. The next ESP dividend will be payable on October 10, 2023 to all shareholders of record on October 2, 2023 with an ex-dividend date of September 29, 2023.
Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers.The company’s primary products are power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, uninterruptible power supply (UPS) systems, antennas and high-power radar systems. Espey reinstated its quarterly dividend in 2023.