Dividend Aristocrat Pentair will raise dividend by almost 6% in 2020

Dividend Aristocrat Pentair will increase its dividend by almost 6 percent to 19 cents per share quarterly.

Pentair plc (PNR) announced today that its Board of Directors has approved a 6 percent increase in the company’s regular cash dividend rate (from $0.18 per share to $0.19 per share) and that it will pay a regular quarterly cash dividend of $0.19 per share on February 7, 2020 to shareholders of record at the close of business on January 24, 2020. 2020 will mark the 44th consecutive year that Pentair has increased its dividend. The stock has gained 19.3% year-to-date and yields approximately 1.7% at current stock prices.

Pentair plc  provides products and systems used worldwide in the movement, storage and treatment of water. Pentair delivers industry leading products, services and solutions that help people make the best use of the resources they rely on most. Its technology moves the world forward by ensuring that water is plentiful, useful and pure, and that critical equipment and those near it are protected. With 2016 revenues of $4.9 billion, Pentair employs approximately 19,000 people worldwide.