Just as many of them are writing their checks to the Internal Revenue Service and the U.S. Treasury, stockholders in Whirlpool Corporation got a bit of good news today thanks to action by the Whirlpool corporate board of directors which is meeting in Chicago. The company will boost its quarterly dividend on their common stock to $1.10 per share, up from $1.00 per share.
The 10-percent hike in the quarterly dividend is payable on June 15, 2017 to stockholders of record at the close of business on May 19, 2017.
Whirlpool Chairman & CEO Jeff Fettig says, “This dividend increase represents our continuing commitment to enhance returns for shareholders and our confidence in the strength of our business.” He adds, “We remain focused on creating long-term value and returning strong levels of cash to our shareholders while funding our brands and innovation programs.”
The world’s number one major appliance manufacturer, based in Benton Harbor, has approximately $21-billion in annual sales, 93,000 employees and 70 manufacturing and technology research centers around the world. The board of directors is in Chicago this week for its regularly scheduled meeting as well as the corporation’s annual shareholders meeting on Tuesday.
