BOSTON ( TheStreet) -- Applied Industrial Technologies (AIT - Get Report) shares retraced early losses by midday Tuesday after the industrial products provider increased its quarterly dividend by 13%.Applied Industrial said it bumped its quarterly cash dividend higher to 17 cents per share from 15 cents. The new dividend is payable on Aug. 31 to shareholders of record on Aug. 16. Applied Industrial Chairman and CEO David Pugh said the dividend increase is based "on our good cash flows and the recent improvement in the North American industrial economy."
Dividend Hikes: Applied Industrial
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