Patrick Industries, Inc.’s board of directors approved an increase in the amount of its quarterly cash dividend on Nov. 11.
The dividend on Patrick’s common stock will grow to 33 cents per share from 28 cents per share, a 17.9% increase.
“The dividend increase reflects the continued confidence of both management and the board in the company’s disciplined capital allocation strategy and strong financial position,” said company CEO Andy Nemeth, “and represents our ongoing commitment to returning capital to our shareholders.”
The dividend is payable Dec. 13, 2021, to shareholders of record at the close of business Nov. 29, 2021.
