MEDINA, Ohio - RPM International Inc. (NYSE: NYSE:RPM), a global leader in specialty coatings, sealants, and building materials, has declared a regular quarterly cash dividend of $0.46 per share. The dividend is scheduled to be paid on April 30, 2024, to shareholders of record as of April 19, 2024.
This announcement follows RPM's milestone last October when it increased its cash dividend by 10%, marking the company's 50th consecutive year of dividend increases. RPM joins a small group of U.S. companies that have achieved such a consistent record of annual dividend growth. According to Dividend Radar, only 41 other publicly traded U.S. companies have a longer history of increasing dividends annually.
Over the years, RPM has returned approximately $3.4 billion in cash dividends to its shareholders. The company's commitment to shareholder returns underscores its financial stability and the success of its diverse portfolio of brands. RPM's well-known brands include Rust-Oleum, DAP, Zinsser, and others, which are widely used in various industries, from residential homes to major infrastructure projects.
RPM International employs around 17,300 people globally and continues to be a significant player in its market segments, which include consumer, construction products, performance coatings, and specialty products.
This dividend declaration is part of RPM's ongoing strategy to deliver value to its stockholders and reflects the company's strong financial position. The information is based on a press release statement from RPM International Inc.
InvestingPro Insights
RPM International Inc.'s latest dividend announcement not only highlights its commitment to shareholder returns but also its impressive track record of financial consistency. An InvestingPro Tip notes that RPM has raised its dividend for 10 consecutive years, demonstrating a reliable increase in shareholder value over time. Furthermore, the company has maintained dividend payments for a remarkable 52 consecutive years, which speaks to its long-term financial health and operational stability.
From a market perspective, RPM's stock characteristically exhibits low price volatility, which may appeal to investors seeking a more stable equity holding. This aligns with the company's history of steady dividend growth and could be a contributing factor to why the company's shares are trading near their 52-week high.
Looking at the real-time data from InvestingPro, RPM's Market Cap stands at a robust $15.24 billion USD. The company has reported a Gross Profit Margin of 39.39% over the last twelve months as of Q2 2024, highlighting its ability to maintain profitability in its operations. Additionally, RPM's Price / Book ratio is currently at 6.46, which may suggest a premium valuation compared to its book value, especially when considering the company's long history of profitability and dividend payments.
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