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W.W. Grainger Boosts Quarterly Cash Dividend 21%

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W.W. Grainger, Inc. (GWW: Quote) said Wednesday that its board of directors voted to raise the quarterly cash dividend by 21% to $0.80 per share payable on June 1 to shareholders of record on May 14.

Grainger has provided 41 consecutive years of increased dividends, a record that only 3 percent of companies in the S&P 500 can claim.

Separately, the company said that its shareholders re-elected 12 directors at the company's annual meeting.

Shareholders also ratified the appointment of Ernst & Young LLP as independent auditor for the year 2012.

Relative to Say on Pay, shareholders voted in favor of the advisory resolution on executive compensation.

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by RTT Staff Writer

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