The A. O. Smith Corp. (AOS) Monday said its Board of Directors have approved a 20 percent increase in the company's quarterly cash dividend to $0.24 per share.
The Board has also approved a plan to split the company's stock two-for-one in the form of a 100 percent stock dividend, payable to class A stockholders.
The cash dividend is payable May 14, to shareholders on record April 29. The cash dividend will be paid on the basis of the pre-split shares.
Meanwhile, the stock dividend is payable May 15, to shareholders on record April 30. Class A shareholders will receive one additional share of such class of stock for every share they own as of the record date.
For comments and feedback: editorial@rttnews.com