San Diego-based WD-40 Company announced Tuesday its board of directors increased the quarterly dividend by 7 cents to 61 cents per share.
The 13 percent increase marks the the ninth consecutive year in which the lubrication and cleaning products company has raised its dividend, which is up by a cumulative 44 percent over the period.
The new quarterly dividend is payable Jan. 31 to stockholders of record at the close of business on Jan. 18.
WD-40 produces the iconic WD-40 and 3-IN-ONE lubricants and many popular cleaning products. The company reported sales of over $400 million in its last fiscal year.
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