Whirlpool announces 4.2% dividend increase for 2020

Whirlpool Corporation (WHR) will raise its quarterly dividend by 4.2 percent to $1.25 per share in 2020. This follows a 4.3 percent dividend hike in the previous year to $1.20 per share by the manufacturer and marketer of home appliances.

This latest dividend increase will make 2020 the tenth consecutive year of dividend increases by the company behind well known brands such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir and Indesit. Whirlpool will now pay an estimated annual dividend of $311 million to shareholders. The stock price had a great run recently and is up 35 percent year-to-date trading near its all time high.

The next dividend is payable December 15, 2020, to stockholders of record at the close of business on November 20, 2020. The new annual dividend rate of $5.00 per share yields 2.5% at a stock price of $198.88 for Whirlpool stock. Another well known consumer stock hiking its dividend is VF Corporation.

"I am pleased to announce that we are increasing our dividend for the eighth consecutive year, reflecting the confidence we have in our business both in the short and long term," said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation in the company's press release dated October 19, announcing this new dividend hike.

Whirlpool Corporation (NYSE: WHR) is the world's leading kitchen and laundry appliance company, with approximately $20 billion in annual sales, 77,000 employees and 59 manufacturing and technology research centers in 2019. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other major brand names in nearly every country throughout the world.