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CLARCOR Hikes Dividend Yet Again, This Time by 10%

Industrial goods manufacturer CLARCOR Inc.CLC recently hiked its quarterly dividend to 22 cents per share from 20 cents, representing a 10.0% year-over-year increase. The increased dividend is payable on Oct 23 to shareholders of record as of Oct 13.

Based on the closing price of $47.22 as on Sep 29, 2015, the proposed dividend offers a yield of 1.9%. A steady dividend payout is part of the long-term strategy of CLARCOR to provide attractive risk-adjusted returns to its stockholders. In addition, decent dividend increases at periodic intervals have been one of the company's most attractive features.

CLARCOR had increased its quarterly dividend every year since 1983. The company had earlier raised the dividend payout from 17 cents to 20 cents per share or from 68 cents to 80 cents on an annualized basis in October 2014. Prior to that, CLARCOR raised its quarterly dividend in October 2013 from 13.5 cents to 17 cents and in October 2012 from 12 cents to 13.5 cents per share.

The company also has a share repurchase program in place, under which it had $178,264 worth of shares remaining under its $250,000 stock repurchase program as of Aug 29, 2015. Over the years, CLARCOR has consistently returned significant cash to its shareholders through dividends and share repurchases.

Founded in 1904, CLARCOR manufactures filtration products, filtration systems and services, and consumer and industrial packaging products worldwide. Headquartered in Franklin, TN, the company operates in three principal segments: Engine/Mobile Filtration, Industrial/Environmental Filtration and Packaging. In addition to direct marketing to the end-user customers, CLARCOR distributes its products through independent distributors, OEM (original equipment manufacturers) dealers, retail stores, and internal sales force.

CLARCOR presently has a Zacks Rank #5 (Strong Sell). However, better-ranked players in the industry worth reckoning include Danaher Corp. DHR , Graham Corporation GHM , and Luxfer Holdings PLC LXFR , each carrying a Zacks Rank #2 (Buy).

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DANAHER CORP (DHR): Free Stock Analysis Report

CLARCOR INC (CLC): Free Stock Analysis Report

GRAHAM CORP (GHM): Free Stock Analysis Report

LUXFER HOLDINGS (LXFR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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