Griffon hikes dividend by 20% in 2024 (13th year of increases)

On november 13, 2024, Griffon Corporation (GFF) declared a regular quarterly cash dividend of $0.18 per share, up 20% from the previous quarterly dividend of $0.15 quarterly per share. Griffon has now raised the dividend for 13 consecutive years and is one of the Dividend Heroes for 2024.

The next GFF dividend is payable on December 18, 2024 to shareholders of record as of the close of business on November 25, 2024. Griffon also announced a new $400 million buyback authorization. The consumer goods, home products, and defense products maker has now raised the dividend by double digit for four consecutive years.

Griffon has raised the dividend 13 consecutive years

Last year GFF hiked its dividend by an even bigger 50% with two increases announced in 2023 and also declared a $2.00 per share special dividend. The regular dividend yields 0.88% at a stock price of $80.52. Griffon stock is up 32.1% in 2024 and trades at an all time high.

Other Dividend Heroes announcing a dividend hike recently include Snap-on Corporation (+15%).

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.