Oil-Dri Boosts Quarterly Dividend by 9.8% to 22.5 Cents
ODC sits 69% above its 52-week low of $45.61.
Summary
Oil-Dri of America increased its quarterly dividend by 9.8%, raising it from 20.5 cents to 22.5 cents per share. This move signals management's confidence in the company's financial stability and future earnings. The dividend hike follows recent Q2 results that reported record net sales but a slight dip in net income, and could appeal to income-focused investors.
At the time of this announcement, ODC was trading at $77.16 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1B. The 52-week trading range was $45.61 to $79.57. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.