Gentex Corp (GNTX) Raises Quarterly Dividend 4.3% to $0.12; 1.9% Yield

Gentex Corp (NASDAQ: GNTX) declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 4.3% increase from the prior dividend of $0.115.

The dividend will be payable on April 22, 2020, to stockholders of record on April 10, 2020, with an ex-dividend date of April 8, 2020.

The annual yield on the dividend is 1.9 percent.

“2019 was a challenging year for the industry, with large reductions in global light vehicle production and the strike that impacted the third and fourth quarters of 2019. Despite the end market weakness, the Company posted out-performance against our markets of approximately 7% for the year, and we believe that we are well positioned to continue outperforming our markets in the coming years,” said Steve Downing, Gentex President and CEO. “This dividend increase represents our optimism for the coming years, and marks the 10th consecutive year that the Company has increased its dividend payout.”

“In 2019 we returned nearly $450 million dollars to our shareholders through dividends and share repurchases,” said Downing. “Our consistent capital allocation strategy enables us to keep a real focus on developing new products and technologies, invest in industry leading manufacturing equipment and processes, increase dividends, and execute our share repurchase program. This strategy and execution have combined to allow us to achieve above market returns for our shareholders.”

For a dividend history and other dividend-related data on Gentex Corp (GNTX) click here.

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