Patrick Industries raises quarterly dividend to $0.47 per share

ELKHART, Ind. - Patrick Industries, Inc. (NASDAQ:PATK) announced Thursday that its Board of Directors has approved an increase in the company's quarterly cash dividend to $0.47 per share from the previous $0.40 per share. This continues the company's strong dividend history, as InvestingPro data shows Patrick has raised its dividend for 6 consecutive years, with a current dividend yield of 1.63%.

The dividend will be payable on December 15, 2025, to shareholders of record at the close of business on December 1, 2025, representing a 17.5% increase from the prior dividend rate. This latest increase significantly outpaces the company's dividend growth of 9.09% over the last twelve months.

"The increase in our quarterly cash dividend underscores our continued confidence in the strength and resilience of our business model, the durability of our end markets, and our ability to generate free cash flow," said Andy Nemeth, Chief Executive Officer of Patrick, in a press release statement. This confidence appears well-founded, as the company maintains a healthy current ratio of 2.34, with liquid assets exceeding short-term obligations according to InvestingPro data.

Patrick Industries is a component solutions provider serving the RV, Marine, Powersports and Housing markets. The company employs approximately 10,000 people throughout the United States and houses more than 85 brands. With a market capitalization of approximately $3.28 billion and a stock price of $98.43, Patrick Industries has delivered a 19.94% year-to-date return for investors.

The dividend increase comes as part of what the company describes as a "balanced and disciplined capital allocation strategy" that supports its strategic growth initiatives.

Patrick Industries has been in operation since 1959 and is headquartered in Elkhart, Indiana. The company's stock trades on the NASDAQ exchange under the ticker symbol PATK.

In other recent news, Patrick Industries reported its third-quarter earnings for 2025, surpassing market expectations. The company achieved an earnings per share of $1.01, exceeding the forecasted $0.93. Additionally, Patrick Industries' revenue reached $976 million, outperforming the anticipated $896.78 million. Following these results, BMO Capital raised its price target for Patrick Industries to $115 from $110, maintaining an Outperform rating. BMO Capital attributed the strong performance to a richer product mix and ongoing content share wins. Meanwhile, Loop Capital initiated coverage on Patrick Industries with a Hold rating and a $99 price target, noting the company's strong market share positions in key industry verticals. These developments highlight the company's current financial strength and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.