CLARCOR Inc. (NYSE:CLC) Raises Dividend For 33rd Straight Years

Boston, MA 09/29/2014 (wallstreetpr) – Provider of filtration products and services, CLACOR Inc. (NYSE:CLC) announced that its Board of Directors has recommended an increase of nearly 18% in its quarterly cash dividend to 20 cents a share from 17 cents a share. This marks the thirty-third year of consecutive increase in dividend in the history of the company. As a result, the average dividend growth rate for the three-year and five-year periods witnessed a solid uptick.

Dividend Payment

CLARCOR Inc. (NYSE:CLC) said that it has fixed October 10 as the record date for determining the eligible shareholders for a dividend, its statement revealed. The dividend would be paid to all the qualified shareholders on October 17. The stock would become ex-dividend from October 8.

The latest dividend rate suggests an annualized payout of 80 cents a share. Its current dividend provides yield of 1.27%, which was higher than the five-year average dividend yield of 0.92%. The projected ten-year average dividend worked out to 8.62%.

Growth And History

The steady increase in dividend every year has lifted the average three-year dividend growth rate to 18.69% while the five-year average dividend growth represented 15.61%. CLARCOR Inc. (NYSE:CLC) has been paying a dividend since 1921 and increasing the dividend rate since 1983. Therefore, the current year is the thirty-third year of increase in the dividend rate in the history of the company.

According to a data from Nasdaq, the company paid a dividend of 11.75 cents a share at the end of the year 2000 to the third quarter of the calendar year 2001. The dividend rate was steadily increasing to 12.75 cents a share till April 2005 and it has issued a stock split of 2:1 in May 2005. As a result, the dividend rate came down to 6.375 cents a share in July 2005. It gradually increased dividend rate to 10.5 cents a share in October 2010. It reached 12 cents a share at the end of 2011 and to 13.5 cents a share towards the end of 2012. The last two dividend rate saw a significant percentage of increase of nearly 26% and 18% respectively. Going by the history, the stock seems to be a perfect bet for those who are looking for a constant increase in dividend.

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Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email ( or his Google+ page (