MILWAUKEE, Jan. 19, 2018 /PRNewswire/ -- Directors of A. O. Smith Corporation (NYSE:AOS) today approved a 29 percent increase in the company's quarterly cash dividend to $.18 per share. The increase is consistent with the five year compound annual growth rate of its dividend which is over 25 percent. The dividend increase affects the company's Common Stock and Class A Common Stock.
The dividend is payable on Feb. 15 to shareholders of record Jan. 31.
"A. O. Smith values its shareholders, and we are proud to say this is the 13th consecutive year the company has increased its quarterly cash dividend," Ajita Rajendra, chairman and chief executive officer, said. "The company's strong balance sheet and cash-generating ability give us the confidence to increase our dividend."
A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a global leader applying innovative technology and energy-efficient solutions to products manufactured and marketed worldwide. The company is one of the world's leading manufacturers of residential and commercial water heating equipment, as well as a manufacturer of water treatment and air purification products. For more information visit www.aosmith.com.
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SOURCE A. O. Smith Corporation