RPM International Inc. announced at its annual meeting of stockholders that its board of directors declared a regular quarterly cash dividend of $0.42 per share, payable on October 31, 2022, to stockholders of record as of October 17, 2022. This payment represents a 5% increase over the $0.40 quarterly cash dividend paid at this time last year.
This action marks RPM’s 49th consecutive year of increased cash dividends paid to its stockholders, which places RPM in an elite category of less than half of 1% of all publicly traded U.S. companies. Only 41 other U.S. companies, besides RPM, have consecutively paid an increasing annual dividend for a longer period of time, according to Dividend Radar. During this timeframe, the company has returned approximately $3.1 billion in cash dividends to its stockholders. At a share price of $84.00, RPM's annual dividend yield would be 2%.
“The incredible efforts of RPM associates and their ability to collaboratively address the challenges we’ve faced have enabled RPM to continue to drive growth, at the same time we are achieving greater operational efficiency across all our businesses,” stated Frank C. Sullivan, RPM chairman and CEO. “We remain committed to delivering sustainable, long-term value for our stockholders, and our 49th consecutive year of increasing our dividend exemplifies this commitment.”
At the meeting, four directors were re-elected to serve in Class I with three-year terms expiring at the annual meeting of stockholders in 2025. They included:
- Kirkland B. Andrews, executive vice president and chief financial officer of Evergy Inc.
- General Ellen M. Pawlikowski, retired four-star general of the United States Air Force
- Frank C. Sullivan, chairman and chief executive officer, RPM International Inc.
- Elizabeth F. Whited, executive vice president – sustainability and strategy of Union Pacific Corporation
For more information, visit: www.rpminc.com.