Patrick Industries announced that on Nov. 19, its board of directors approved an increase in the amount of its quarterly cash dividend on its common stock to $0.47 per share from $0.40 per share. The dividend is payable on Dec. 15 to shareholders of record at the close of business on Dec. 1.
“The increase in our quarterly cash dividend underscores our continued confidence in the strength and resilience of our business model, the durability of our end markets, and our ability to generate free cash flow,” said Andy Nemeth, CEO of Patrick. “We remain committed to a balanced and disciplined capital allocation strategy that supports our strategic growth initiatives.”
