Another Dividend Aristocrat Increases Their Dividend

Dover Corporation [[DOV]] announced yesterday that the company will increase their quarterly dividend by 6% to $.275 per share.


Dover is the second dividend aristocrat stock to increase their dividend this week, after Leggett & Platt raised their dividend for the 39th consecutive year.


Following the dividend increase, Dover shares will yield 2.2% based on yesterday’s closing price.


This marks the 55th consecutive year in which Dover has increased their cash dividend. This gives DOV the fourth longest record of consecutive annual dividend increases of all listed companies, as reported by Mergent’s Dividend Achievers.


Dover shares have gained nearly 18% since the beginning of the year and was one of the top dividend aristocrat stocks last month – gaining nearly 15%.


The dividend will be payable on September 15, 2010 to shareholders of record as of August 31, 2010.

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