Pentair increases dividend for 41st consecutive year

Pentair plc (PNR) plans to raise its dividend by 3% in 2016.

Dividend Aristocrat Pentair will raise its quarterly dividend from $0.34 to $0.345 per share.

The industrial company said today that it will pay a regular quarterly cash dividend of $0.345 per share on February 10, 2017 to shareholders of record at the close of business on January 27, 2017. 

2017 will mark the 41st consecutive year that Pentair, on of the Dividend Aristocrats, has increased its dividend. The total dividend of $1.38 per share for 2017 will be 3% higher than the total dividend of $1.34 paid by Pentair in 2016.

At a current stock price of $59.60 Pentair has an estimated dividend yield of 2.3%.

Pentair plc  provides products and systems used worldwide in the movement, storage and treatment of water with target markets including flow technologies, filtration and pool.