The board has raised the quarterly payout to 65 cents a share, climbing from the previous 53 cents. Shareholders will also receive a 6-cent special dividend, with both payments scheduled for distribution on Oct. 1 to those of record as of Sept. 15.

This shift brings the company’s annualized dividend to $2.60 per share. Based on Tuesday’s closing price of $78.12, the move represents a significant bump from the earlier 2.71% yield, solidifying the firm's long-standing commitment to consistent shareholder returns.