H.B. Fuller Increases Quarterly Dividend
H.B. Fuller Co. recently announced that its board of directors approved an increase in the company’s regular quarterly cash dividend from $0.205 per share of common stock to $0.2225 per share of common stock. The dividend will be payable on May 9, 2024, to shareholders of record at the close of business on April 25, 2024.
The latest dividend represents an 8.5% increase over the prior quarterly dividend and marks the 55th consecutive year in which the company has increased its dividend.
H.B. Fuller reported its net revenue was up slightly year-on-year for the first quarter of 2024, while organic revenue decreased modestly due primarily to anticipated pricing changes. Specifically, net revenue for the first quarter of fiscal 2024 was $810 million, up 0.2% versus the first quarter of fiscal 2023. Organic revenue declined 4.2% year-on-year, with pricing adjustments reducing organic revenue by 3.3% and volume reducing organic revenue by 0.9%. Foreign currency translation reduced net revenue by 0.6% and acquisitions increased net revenue by 5.0%.
Learn more about H.B. Fuller at www.hbfuller.com.
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