Emerson Electric raises dividend by 1.0 percent in 2020

Dividend Aristocrat Emerson Electric (EMR) will increase its quarterly dividend by 1.0% to $0.505 per share in 2020. This will mark 64 consecutive years of dividend increases by the industrial company.

The board of directors of Emerson declared the regular quarterly cash dividend of fifty and a half cents ($0.505) per share of common stock payable December 10, 2020 to stockholders of record November 13, 2020.

A new annual dividend rate of $2.02 per share yields 2.9% at a stock price of $70.12. Dividend growth has been very slow for Emerson the last couple of years with an average dividend growth of just 1.2 percent annually in the last five years. Back in 2011 Emerson announced its last double digit dividend increase.

Another Dividend Aristocrat announcing a dividend hike a couple of days ago is AbbVie. The pharmaceutical company will increase its dividend by more than 10 percent.

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure.