Lennox to increase quarterly dividend

Rhea-AI Summary

The board of directors of Lennox (NYSE: LII), a leader in energy-efficient climate-control solutions, announced a 4.5% increase in the quarterly dividend, raising it from $1.10 to $1.15 per share. The dividend will be payable on July 15, 2024, to stockholders of record as of June 28, 2024. Chief Financial Officer Michael Quenzer stated that the dividend increase reflects the company's successful strategy execution, margin improvements, and solid cash flow. Investments in manufacturing capacity and sustainable products are expected to enhance performance and competitiveness. Quenzer emphasized that Lennox's growth and margin optimization strategies aim to maximize shareholder value and deliver returns.

Positive

• 4.5% increase in quarterly dividend from $1.10 to $1.15 per share.
• Dividend payable on July 15, 2024, to stockholders of record as of June 28, 2024.
• Successful execution of company strategy leading to margin improvements and solid cash flow.
• Investments in expanded manufacturing capacity and sustainable products.
• Enhanced performance and competitiveness in the marketplace.
• Proactive growth and margin optimization strategies to maximize shareholder value and returns.

Negative

• No information provided about potential risks or uncertainties affecting future performance.
• The PR lacks details on specific financial metrics and performance figures that could provide deeper insights into the company’s current financial health.

DALLAS, May 20, 2024 /PRNewswire/ -- The board of directors of Lennox (NYSE: LII), a leader in energy-efficient climate-control solutions, approved a 4.5% increase in the quarterly dividend from $1.10 to $1.15 per share of common stock, payable July 15, 2024, to stockholders of record as of June 28, 2024.  

"Our latest dividend increase is a result of consistently executing our strategy, driving margin improvements and generating solid cash flow. Our investments in expanded manufacturing capacity and sustainable products enhance our performance and competitiveness in the marketplace," said Lennox Chief Financial Officer Michael Quenzer. "We believe that our proactive growth and margin optimization strategies will continue to maximize value and deliver returns to our shareholders."   

ABOUT LENNOX 
Lennox (NYSE: LII) is a leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our cooling, heating, indoor air quality, and refrigeration systems. Additional information on Lennox is available at www.lennox.com or by contacting investor@lennox.com. 

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SOURCE Lennox International Inc.

FAQ

What is the new dividend amount for Lennox (LII)?

The new quarterly dividend for Lennox (LII) is $1.15 per share, a 4.5% increase from the previous $1.10.

When is the new Lennox (LII) dividend payable?

The new dividend is payable on July 15, 2024.

What is the record date for Lennox (LII) dividend?

The record date for the Lennox (LII) dividend is June 28, 2024.

Why is Lennox (LII) increasing its dividend?

Lennox is increasing its dividend due to successful strategy execution, margin improvements, and solid cash flow.

How much has Lennox (LII) increased its dividend by?

Lennox has increased its quarterly dividend by 4.5%.