BRUNSWICK HILLS TWP. — RPM International announced Friday that its board of directors approved pushing up the payment date of its regular quarterly cash dividend to Dec. 28 in a move designed to protect stockholders from higher taxes that might go into effect at the start of the new year.
The rescheduled payment replaces the quarterly dividend that would have been paid in January.
The dividend of $0.225 per share is payable to stockholders of record as of Dec. 17. At a share price of $28.50, RPM’s dividend yield would be 3.2 percent.
The next quarterly dividend is anticipated to be paid in April 2013.
RPM’s last cash dividend increase of 4.7 percent in October 2012 marked its 39th consecutive year of increased cash dividends paid to its stockholders, company officials said.
Only 47 other companies besides RPM consecutively have paid an increasing annual dividend for this period of time or longer, according to the fall 2012 edition of the Mergent Handbook of Dividend Achievers.
RPM International is a holding company that owns subsidiaries that produce specialty coatings, sealants, building materials and related services serving industrial and consumer markets worldwide.
In addition to Rust-Oleum, RPM’s consumer products include Zinsser, DAP, Varathane and Testors.