Parker Hannifin Boosts Dividend 11% to $2.00 and Eyes Earnings Beat
PHPH•
Parker Hannifin’s board approved an 11% hike in quarterly cash dividend to $2.00 per share, payable June 5 to shareholders of record May 8, marking the 304th consecutive dividend and 70th consecutive year of annual increases. Upcoming earnings are expected to outperform estimates due to strong cash flow, efficiency.
1. Board Declares 11% Dividend Increase
The board approved an 11% increase in the quarterly cash dividend to $2.00 per share for shareholders of record on May 8, payable June 5. This marks Parker’s 304th consecutive quarterly dividend and extends its annual dividend increase streak to 70 years.
2. Earnings Beat Outlook
Expectations are for a likely earnings beat in the upcoming quarterly report, driven by strong cash flow and efficiency gains.
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Sources
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