Atrion hikes dividend by 10.3%

Medical equipment maker Atrion Corporation (ATRI) on August 22, 2022 announced that it will raise its quarterly dividend by 10.3% to $2.15 per share. This comes after a 11.4 percent hike by ATRI to $1.95 per share in 2021. The Allen (Texas) based medical products manufacturer has now announced a dividend hike for 19 consecutive years.

In a press release we read that Atrion Corporation today announced an increase in its quarterly cash dividend from $1.95 per share to $2.15 per share. Specifically, the Board of Directors declared a quarterly cash dividend of $2.15 per share on its outstanding shares of Common Stock. This dividend will be payable on September 30, 2022 to stockholders of record at the close of business on September 15, 2022.

A new annualized dividend rate of $8.60 per share yields 1.4% at a stock price of $623. Atrion currently pays an estimated $15 million total in dividends annually to shareholders.

Atrion Corporation is a manufacturer of medical devices and components. The company makes products for specific niche markets, primarily in the field of health care. Most of the company's products are supplied to the cardiovascular, ophthalmic and fluid delivery markets. Atrion's products include soft contact lens disinfection cases, clamps for IV sets, vacuum relief valves, surgical loops used in minimally invasive surgery, and check valves. As an extension of its expertise in valve design and manufacturing, Atrion also is the leading manufacturer of valves and inflation devices for the marine and aviation markets, supplying valves used in safety products such as life vests, and inflatable boats.