Enpro Increases Dividend for Ninth Consecutive Year
Enpro Inc. Announces Ninth Consecutive Year of Dividend Growth
Enpro Inc. (NYSE: NPO), an industrial technology company, has declared a slight increase in its quarterly dividend, marking the ninth year of consecutive dividend growth. This decision comes as part of the company’s dividend policy, which was established in 2015. The newly declared dividend stands at $0.30 per share, reflecting a 3.4% increase from the previous quarter’s dividend of $0.29 per share.
Enpro’s CEO Attributes Dividend Increase to Strong Financial Health
Eric Vaillancourt, President and Chief Executive Officer of Enpro, has attributed the dividend increase to the company’s robust financial health and its ability to generate sustainable cash flow. The decision aligns with Enpro’s capital allocation strategy, which includes an annual review of its dividend policy. Vaillancourt expressed confidence in the company’s long-term financial outlook, highlighting the continued increment of shareholder returns.
Dividend Eligibility and Payment Schedule
Shareholders on record as of the close of business on March 6, 2024, will be eligible for the dividend, which is scheduled for payment on March 20, 2024. Enpro, headquartered in Charlotte, North Carolina, operates in various end-markets such as semiconductor, industrial process, and aerospace, among others. The company’s shares are traded on the New York Stock Exchange.
Looking to the Future
As Enpro continues to prioritize sustainable growth and shareholder value, the increase in its quarterly dividend reflects the company’s commitment to rewarding its investors. With a focus on long-term financial stability and profitability, Enpro aims to solidify its position in the industrial technology sector and deliver consistent returns to its shareholders.
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