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Patrick Industries will pay shareholders a quarterly cash dividend of 52 cents per share, up from 47 cents, after the company’s board approved an increase. The new payment is due Dec. 7 to shareholders of record on Nov. 23.
Chief Executive Andy Nemeth said the higher dividend reflects the company’s business performance, cash generation and solid balance sheet.
The new payout amounts to $2.08 per share annually. Based on Thursday’s closing price of $78.59, that represents an annual yield of about 2.65%.
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