A. O. Smith Increases Quarterly Dividend to $0.30 per Share

Rhea-AI Summary

A. O. Smith Corporation (NYSE: AOS) has announced a 7% increase in its quarterly cash dividend to $0.30 per share, effective for shareholders of record by October 31, 2022. The dividend will be payable on November 15, 2022. CEO Kevin J. Wheeler highlighted the company's confidence in stable replacement demand in its water heating and boiler sectors, with a compound annual growth rate of over 15% for dividends over the past five years, indicating a commitment to returning capital to shareholders.

Positive

• 7% increase in quarterly cash dividend to $0.30 per share.
• Dividend payable on November 15, 2022, demonstrates commitment to shareholders.
• Over 15% compound annual growth rate of dividends in the last five years.
• Continuous dividend increase for over 25 years indicates strong financial stability.

Negative

• None.

MILWAUKEE, Oct. 13, 2022 /PRNewswire/ -- On Wednesday, October 12, 2022, the board of directors of A. O. Smith Corporation (NYSE: AOS) approved a 7% increase in the company's quarterly cash dividend rate to $0.30 per share. The dividend increase affects the company's Common Stock and Class A Common Stock.

A. O. Smith Announces Increase in Quarterly Dividend

The dividend is payable on November 15 to shareholders of record October 31, 2022.

"This dividend increase reflects our confidence in the stability in our replacement demand inherent in our water heating and boiler businesses, as well as our focus on returning capital to shareholders," said Kevin J. Wheeler, chairman and chief executive officer. "We are proud to say the five-year compound annual growth rate of our dividend rate is more than 15%, and that we have increased our dividend each year for over 25 years."

About A. O. Smith

A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a global leader applying innovative technology and energy-efficient solutions to products manufactured and marketed worldwide. Listed on the New York Stock Exchange (NYSE: AOS), the company is one of the world's leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products. For more information, visit www.aosmith.com.

 

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SOURCE A. O. Smith Corporation

FAQ

What is the new dividend amount for AOS?

A. O. Smith has increased its dividend to $0.30 per share.

When will the new dividend for AOS be paid?

The dividend will be paid on November 15, 2022.

What is the record date for AOS's dividend?

Shareholders must be on record by October 31, 2022, to receive the dividend.

How long has AOS been increasing its dividend?

A. O. Smith has increased its dividend each year for over 25 years.