CHARLOTTE, N.C. - Enpro Inc. (NYSE: NPO), an industrial technology company, announced today a slight increase in its quarterly dividend, marking the ninth year of consecutive dividend growth since the inception of its dividend policy in 2015. The company declared a dividend of $0.30 per share, which is a 3.4% increase from the previous quarter's dividend of $0.29 per share.
Eric Vaillancourt, President and Chief Executive Officer of Enpro, attributed the increase to the company's robust financial health and its capacity to generate sustainable cash flow. The decision aligns with Enpro's capital allocation strategy, which includes a yearly review of its dividend policy. Vaillancourt expressed confidence in the company's long-term financial outlook, which supports the continued increment of shareholder returns.
Shareholders on record as of the close of business on March 6, 2024, will be eligible for the dividend, which is scheduled for payment on March 20, 2024.
Enpro, headquartered in Charlotte, North Carolina, operates in various end-markets such as semiconductor, industrial process, and aerospace, among others. The company's shares are traded on the New York Stock Exchange.
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