Griffon hikes dividend by 25% to $0.125 quarterly in 2023

The Board of Directors of Griffon Corporation (GFF) declared a regular quarterly cash dividend of $0.125 per share. The dividend is payable on June 15, 2023, to shareholders of record as of the close of business on May 25, 2023. Earlier GFF also declared a $2.00 per share special dividend to be paid on May 19, 2023. The regular dividend yields 1.7% at a stock price of $29.12.

Griffon Corporation, founded in 1959, is a holding company. Griffon currently conducts its operations through three reportable segments: Consumer and Professional Products (CCP), Home and Building Products (HBP) and Defense Electronics. CPP conducts its operations through AMES, a manufacturer of branded consumer and professional tools and products for home storage and organization, landscaping, and enhancing outdoor lifestyles. CPP's brands include True Temper, AMES, and ClosetMaid. HBP conducts its operations through Clopay, a manufacturer and marketer of garage doors and rolling steel doors. Brands include Clopay, Ideal, Holmes and CornellCookson. Defense Electronics conducts its operations through Telephonics Corporation, a provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers.