MILWAUKEE, Oct. 9, 2023
/PRNewswire/ -- On Monday, October 9,
2023, the board of directors of A. O. Smith Corporation
(NYSE: AOS) approved a 7% increase in the company's quarterly
cash dividend rate to $0.32 per
share. The dividend increase affects the company's Common Stock and
Class A Common Stock.
A. O. Smith Increases Quarterly Dividend by
7%
The dividend is payable on Wednesday,
November 15 to shareholders of record October 31, 2023.
"This dividend increase reflects our confidence in the stability
in our replacement demand inherent in our water heating and boiler
businesses, as well as our focus on returning capital to
shareholders," said Kevin J.
Wheeler, chairman and chief executive officer. "We are proud
to say the five-year compound annual growth rate of our dividend
rate is more than 10%, and that we have increased our dividend each
year for over 30 years."
About A. O. Smith
A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a global leader applying
innovative technology and energy-efficient solutions to products
manufactured and marketed worldwide. Listed on the New York Stock
Exchange (NYSE: AOS), the company is one of the world's leading
manufacturers of residential and commercial water heating equipment
and boilers, as well as a manufacturer of water treatment products.
For more information, visit www.aosmith.com.
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SOURCE A. O. Smith Corporation