RPM International Inc. announced that its board of directors approved a regular quarterly cash dividend of $0.51 per share, a 10.9% increase from the same period last year. The dividend will be payable October 31, 2024, to stockholders of record as of October 18.

This marks the 51st consecutive year of dividend increases for RPM, placing the company among fewer than 0.5% of publicly traded U.S. firms with such a record.

“Our associates built upon our legacy of generating growth throughout economic cycles, which is allowing us to increase our dividend for the 51st consecutive year,” said Frank C. Sullivan, RPM chairman and CEO.

At the annual meeting of stockholders, RPM re-elected three board members to one-year terms and approved a proposal to phase out board classification. Two directors—John M. Ballbach and Kirkland B. Andrews—will step down from the board by January 2025.