- Lincoln Electric Holdings Inc (NASDAQ:LECO) Board of Directors has approved a 14.3% increase in the quarterly cash dividend, from $0.56 per share to $0.64 per share.
- The increase amounts to $2.56 per share on an annualized basis.
- The hike marks the twenty-seventh consecutive annual increase in the dividend.
- The dividend is payable on January 13, 2023, to shareholders of record at the close of business on December 31, 2022.
- The company held $152.8 million in cash and equivalents as of June 30, 2022.
- “Our dividend increase reflects the strong execution of our Higher Standard 2025 Strategy and our confidence in the strength of future cash flow generation through the cycle,” said Chairman and CEO Christopher L. Mapes.
- Price Action: LECO shares closed higher by 2.72% at $129.81 on Tuesday.
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