McRae Industries hikes dividend by 7.7%

McRae Industries Inc. (MCRAA) announced on June 2, 2022 that it will raise its quarterly dividend by 7.7 percent to 14 cents per share. This is the first increase by the footwear company since 2013 when a 44.4 percent increase was announced.

The next dividend of $.14 per share on the Company's Class A and Class B Common Stock payable on June 29, 2022 to shareholders of record on June 15, 2022. The dividend yield is 1.5% for McRae stock at a price of $36.60.

McRae Industries, Inc. is a manufacturer and distributor of children's shoes. The boots are focused on the western/lifestyle and work markets and principal lines of business are manufacturing and selling military combat boots and importing and selling western and work boots. McRae western/lifestyle boot segment includes western, ladies’ fashion, and children’s footwear products under the Dan Post, Dingo, Eldorado, and Laredo brand. Its work boot brands include Dan Post, Laredo, and McRae Industrial brand work boots along with its military combat boots.