MILWAUKEE, July 15 /PRNewswire-FirstCall/ — Directors of A. O. Smith Corporation (NYSE:AOS) today announced a 5.5 percent increase in the company’s quarterly cash dividend to a rate of $.19 per share.
The increased dividend will apply to both Common Stock and Class A Common Stock and is payable on Aug. 15 to shareholders of record July 31.
This is the sixth time in the last seven years that the company has increased its quarterly dividend and follows last year’s record-setting net earnings of $2.85 per share.
“A. O. Smith remains committed to improving its profitability and returns so that our stockholders may realize the value of their investment in spite of tough economic times,” Chairman and Chief Executive Officer Paul W. Jones said.
A. O. Smith Corporation, with 2007 sales of $2.3 billion, is a global leader applying innovative technology and energy-efficient solutions to products marketed worldwide. The company is one of the world’s leading manufacturers of residential and commercial water heating equipment, offering a comprehensive product line featuring the best-known brands in North America and China. A. O. Smith is also one of the largest manufacturers of electric motors for residential and commercial applications in North America.
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Source: A. O. Smith Corporation