The Board of Directors of Dover Corporation (NYSE: DOV) today declared a regular quarterly cash dividend of $0.25 (twenty-five cents) per share, payable on June 15, 2009 to shareholders of record as of May 31, 2009.
Dover Corporation, with over $7 billion in annual revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
SOURCE: Dover Corporation
Dover Corporation is a world-wide, diversified manufacturer of Industrial products. Our goal is to be the leader in every market we serve, to the benefit of our customers and our shareholders.
Currently Dover is paying out a mere 29.15% on its dividend payout. Dover annually generates strong free cash flow at 8 to 10% of revenue to fund its strategic growth initiatives.
Dover's capital allocation strategy includes opportunistic share repurchases. I have been very impressed with my Dover holding and will continue to hold it as a portion of my industrial goods folio.
Disclosure I am Long VERY HAPPLY shares of Dover. (DOV)