MSC Industrial Direct hikes dividend by 5.3%

On October 11, 2022, MSC Industrial Direct (MSM) announced al 5.3% dividend hike to 79 cents per share quarterly. This is the first increase by MSM since 2019. The dividend yield is 4.1% at a stock price of $76 for MSM.

MSM, premier distributor of Metalworking and Maintenance, Repair and Operations (MRO) products and services to industrial customers throughout North America, today announced that its Board of Directors has declared a cash dividend of $0.79 per share, representing a 5% increase from the previous regular quarterly dividend of $0.75 per share. The $0.79 dividend is payable on November 29, 2022 to shareholders of record at the close of business on November 15, 2022. The ex-dividend date is November 14, 2022.

MSC Industrial Direct Co., Inc. is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The company serves customers throughout the United States, Canada and the United Kingdom, from individual machine shops, to Fortune 100 manufacturing companies, to government agencies such as the General Services Administration and the Department of Defense. MSM initiated its quarterly dividend in 2003.