This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dividend Hikes: MSC Industrial

NEW YORK ( TheStreet) -- MSC Industrial Direct (MSM - Get Report) shares rose in early trading Wednesday after metalworking products company raised its dividend by 10%.

MSC Industrial said it has increased its quarterly dividend to 22 cents per share from 20 cents, boosting its dividend yield to 1.75% from 1.59%. The new dividend is payable on July 27 to shareholders of record at the close of business on July 13, the company said.

The dividend announcement comes one day before MSC Industrial reports fiscal third-quarter earnings results. Analysts expect the company to report a quarterly profit of 66 cents a share on revenue of $444.7 million, according to Thomson Reuters.

Shares of MSC Industrial were higher by 64 cents, or 1.3%, to $50.97 in Wednesday's premarket session. The stock is up more than 7% in 2010 and 44% over the last 12 months.

In other dividend news, Williams Controls (WMCO) said its board of directors has declared a cash dividend of $1 per share. The dividend will be payable on July 28 to shareholders of record at the close of business on July 14, although the electronic sensors maker said it has not yet determined whether the distribution would be taxable as a dividend or be treated as a return of capital.

Shares of Williams Controls closed Tuesday at $8.40.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
WMCO $0.00 0.00%
MSM $71.65 0.00%
AAPL $125.80 0.00%
FB $77.56 0.00%
GOOG $530.80 0.00%

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs