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Donaldson Pays About 49% Of Its Profit As Dividend

Donaldson Pays About 49% Of Its Profit As Dividend - Donaldson Company, Inc. NYSE:DCI

Donaldson Company, Inc. DCI 0.33% revealed that its board has declared a regular cash dividend of $0.17.5 a share. This represented a payout ratio of approximately 49 percent, which was higher than the average payout ratio of 34.0 percent in the five-year period.

On a full-year basis, this dividend represented $.70 a share. The company indicated that it would pay the dividend on or before August 31 to its shareholders, whose names appear on the record books of August 15.

Related Link: Craig Hallum Initiates Coverage On Donaldson At Buy, Announces $41 PT

Donaldson said that it has been paying a cash dividend every quarter for the past 61 years. In the last 19 straight years, it boosted the dividend rate. As a result, the five-year average dividend growth rate was 21.33 percent.

The dividend offered a yield of 1.90 percent, which was more than the five-year average yield of 1.50 percent.

On Friday, the stock edged up by $0.10 or 0.28 percent at $36.12.

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