WD-40 hikes dividend by 6.8% to $0.94 quarterly
WD-40 Company (WDFC) has announced that its board of directors declared on Wednesday, December 11, 2024 a quarterly dividend of $0.94 per share reflecting an increase of 7 percent compared to the previous quarter’s dividend. This marks 15 consecutive years of increased dividends by WDFC.
The next quarterly WDFC dividend is payable January 31, 2025 to stockholders of record at the close of business on January 17, 2025. At a stock price of $270 the dividend yield for WDFC was 1.3% before this new dividend hike was announced.
Last year WDFC hiked the dividend by 6.0% and the 5 year CAGR for the dividend now stands at exactly 7.0%. The company last hiked the dividend by double digits in 2021 (+16.4%).
WD-40 Company develops and sells maintenance products, and homecare and cleaning products which solve problems in workshops, factories and homes. The company sells its products worldwide primarily through warehouse club stores, automotive parts outlets, hardware stores, industrial distributors and suppliers, mass retail and home center stores, grocery stores, value retailers, farm supply, sport retailers, independent bike dealers and online retailers. Maintenance products are sold worldwide in markets throughout North, Central and South America, Asia, Australia, Europe, the Middle East and Africa. Homecare and cleaning products are sold primarily in North America, the United Kingdom and Australia. The company’s brands include WD-40, 3-IN-ONE, GT85, X-14, 2000 Flushes, Carpet Fresh, no vac, Spot Shot, 1001, Lava and Solvol. WD-40, headquartered in San Diego, has been listed on the stock market since 1973 and was founded in 1953 when Rocket Chemical Company and its staff of three set out to create a line of rust-prevention solvents and degreasers for use in the aerospace industry. It took them 40 attempts to get their water displacing formula to work, but on the 40th attempt, they got it right in a big way. WD-40 was born. WD-40 stands for Water Displacement, 40th formula.
