RPM International hikes dividend by 5%
On October 6, 2022, RPM International (RPM) announced a 5 percent dividend hike to $0.42 quartery per share, marking the 49th consecutive year of increased dividends by the US coatings and sealants maker. This comes on the back of a 5.3 percent dividend hike by RPM in 2021. The next RPM dividend is payable on October 31, 2022, to stockholders of record as of October 17, 2022. The annual dividend now yields 1.8% at a stock price of $91 for RPM.
“The incredible efforts of RPM associates and their ability to collaboratively address the challenges we’ve faced have enabled RPM to continue to drive growth, at the same time we are achieving greater operational efficiency across all our businesses,” stated Frank C. Sullivan, RPM chairman and CEO. “We remain committed to delivering sustainable, long-term value for our stockholders, and our 49th consecutive year of increasing our dividend exemplifies this commitment.”
RPM International Inc. is a manufacturer of specialty coatings, sealants, building materials and related services. The company's four reportable segments are Construction Products, Performance Coatings, Consumer and Specialty Products. RPM's brands include API, Carboline, CAVE, DAP, Day-Glo, Dri-Eaz, Dryvit, Euclid, EUCO, Fibergrate, Flecto, Flowcrete, Grupo PV, Hummervoll, illbruck, Mohawk, Rust-Oleum, Stonhard, TCI, Toxement, Tremco, Tuf-Strand, Universal Sealants, Viapol, Watco and Zinsser. RPM was founded in 1947 and typically pays its quarterly dividends on the 31st of July, October and January and the 30th of April.
