Cooper Industries (CBE) Raises Quarterly Dividend 6.9% to $0.31; 2% Yield

Cooper Industries (NYSE: CBE) declared a quarterly dividend of $0.31 per share, or $1.24 annualized. This is a 6.9% increase from the prior dividend of $0.29.

The dividend will be payable on April 2, 2012, to stockholders of record on February 29, 2012, with an ex-dividend date of February 27, 2012.

The annual yield on the dividend is 2 percent.

"Over the last five years, we have deployed approximately $4.4 billion in capital. Our dividend, which is up 48% in the last five years, is a key element to our balanced capital deployment strategy and represents our continued confidence in Cooper's ability to generate strong cash flow. For 2011 Cooper experienced its 11th consecutive year of free cash flow greater than net income from continuing operations. Consistent free cash flow performance, along with our solid balance sheet, allow Cooper to execute a well balanced capital allocation program," said Cooper Industries Chairman and CEO Kirk S. Hachigian.

For a dividend history and other dividend-related data on Cooper Industries (CBE) click here.

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