A. O. Smith Increases Quarterly Dividend to $0.34 per Share

A. O. Smith (NYSE: AOS) has announced a 6% increase in its quarterly cash dividend to $0.34 per share.

Rhea-AI Summary

A. O. Smith (NYSE: AOS) has announced a 6% increase in its quarterly cash dividend to $0.34 per share. The board of directors approved this increase on October 7, 2024, affecting both Common Stock and Class A Common Stock. The dividend will be payable on November 15 to shareholders of record as of October 31, 2024.

Kevin J. Wheeler, chairman and CEO, emphasized that this increase aligns with the company's capital allocation strategy of consistently returning capital to shareholders. He highlighted that A. O. Smith has maintained a five-year compound annual growth rate of approximately 8% for its dividend rate and has increased its dividend annually for over 30 years.

Positive

• Quarterly cash dividend increased by 6% to $0.34 per share
• Five-year compound annual growth rate of dividend rate is approximately 8%
• Consistent dividend increases for over 30 years

Negative

• None.

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MILWAUKEE, Oct. 7, 2024 /PRNewswire/ -- On Monday, October 7, 2024, the board of directors of A. O. Smith Corporation (NYSE: AOS) approved a 6% increase in the company's quarterly cash dividend rate to $0.34 per share. The dividend increase affects the company's Common Stock and Class A Common Stock.

A. O. Smith announces quarterly dividend.

The dividend is payable on Friday, November 15 to shareholders of record October 31, 2024.

"This dividend increase reflects our commitment within our capital allocation strategy of consistently 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 approximately 8%, and that we have increased our dividend each year for over 30 years."

About A. O. Smith
Celebrating its 150^th year of business, A. O. Smith Corporation, headquartered 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new quarterly dividend amount for A. O. Smith (AOS) stock?

A. O. Smith (AOS) has increased its quarterly dividend to $0.34 per share, representing a 6% increase.

When is the next dividend payment date for A. O. Smith (AOS)?

The next dividend payment for A. O. Smith (AOS) is scheduled for November 15, 2024.

What is the record date for A. O. Smith's (AOS) upcoming dividend?

The record date for A. O. Smith's (AOS) upcoming dividend is October 31, 2024.

How long has A. O. Smith (AOS) been increasing its dividend?

A. O. Smith (AOS) has been increasing its dividend annually for over 30 years.

What is the five-year compound annual growth rate of A. O. Smith's (AOS) dividend?

The five-year compound annual growth rate of A. O. Smith's (AOS) dividend is approximately 8%.