Hubbell Hikes Dividend By 7%; Adopts Additional $300M Stock Buyback

Hubbell Inc HUBB said its Board of Directors declared a 7% increase in its common stock dividend rate.
The new annual payment of $4.48 per share, or $1.12 per quarter, compares to the former rate of $4.20 per share, or $1.05 per quarter.
The dividend will be paid on December 15, 2022, to shareholders of record on November 30, 2022.
Additionally, the Board approved a new share repurchase authorization of up to $300 million.
The new share buyback program is set to expire in October 2025.
Hubbell held $438.1 million in cash and equivalents as of June 30, 2022.
Price Action: HUBB shares are trading higher by 1.62% at $215.90 on the last check Friday.