By Colin Kellaher
Patrick Industries’ board has raised the company’s quarterly dividend by 22%, to 55 cents from 45 cents.
The new payout, equal to $2.20 a year, represents an annual yield of about 2.62% based on Wednesday’s closing price of $83.99, up from 2.14%.
The Elkhart, Ind., maker of component and building products on Thursday said the increased dividend is payable Dec. 11 to shareholders of record Nov. 27.
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