Carpenter Technology (CRS) Raises Quarterly Dividend 11.1% to $0.20; 1.5% Yield

Carpenter Technology (NYSE: CRS) declared a quarterly dividend of $0.20 per share, or $0.8 annualized. This is an 11.1% increase from the prior dividend of $0.18. The dividend will be payable on September 6, 2018, to stockholders of record on August 28, 2018, with an ex-dividend date of August 27, 2018. The annual yield on the dividend is 1.5 percent.

“Representing our first increase since 2008, this increase reflects our confidence in our long-term growth potential, as well as our strong financial position and stable free cash generation,” said Tony Thene, Carpenter’s President and CEO. “Our increased dividend payout is consistent with our balanced capital allocation approach as we look to rapidly invest in target growth areas like additive manufacturing and soft magnetics while also delivering direct returns to our shareholders. In addition, this further strengthens our long-standing commitment to providing direct returns to our shareholders as fiscal 2019 marks our 112th straight year of uninterrupted dividend payments.”

For a dividend history and other dividend-related data on Carpenter Technology (CRS) click here.

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