CLEVELAND (Aug. 18) – Parker Hannifin Corp.´s board of directors has increased the company´s regular quarterly cash dividend to 26 cents per share of common stock, and declared a dividend payable September 8 to shareholders of record as of August 28.
The dividend increase represents a 13-percent boost over the previous quarterly dividend of 23 cents per share. The payment will be Parker´s 225th consecutive quarterly dividend and comprises a distribution of approximately $31 million.
Parker has increased its annual dividends paid to shareholders for 50 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index, the company said.
The Cleveland-base firm´s rubber and elastomeric products include insulators, seals, gaskets, O-rings, spacers and washers, bushings, conductive extrusions, custom molded rubber shapes, hose products, and molded assemblies.