Lennox raises dividend 19%, starting in July

Lennox International Inc,. said this week it was raising its quarterly dividend 19 percent, to 51 cents a share from 43 cents a share. The Dallas, Texas-based heating, air conditioning and refrigeration company, with a facility in Marshalltown, said the new dividend will be payable July 17 to shareholders of record on June 30.

At current stock prices, the new annual dividend rate of $2.04 implies a dividend yield of 1.19%, compared with the S&P 500 SPX, +0.03 percent implied yield of 2.04 percent, according to FactSet. Lennox’s stock has run up 12 percent year to date while the S&P 500 has gained 5.6 percent.