The dividend will rise 2 cents, or 11.1%, and is payable Oct. 30 to shareholders of record at the close of business on Oct. 9.
On an annual basis, the dividend will increase from 72 cents a share to 80 cents a share, the Camden, N.J.-based company said.
"Based on our strong cash flow and solid financial performance, we are pleased to increase the dividend for the third consecutive year," the company added.
Shares closed down 30 cents to $35.97 Thursday.
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