The Board of Directors of Ecolab Inc. declared a 2% increase in the companys quarterly cash dividend to $0.47 per common share, to be paid January 15, 2020, to shareholders of record at the close of business on December 17, 2019. This increase results in a new indicated annual cash dividend of $1.88 per share in 2020 and represents Ecolabs 28th consecutive annual dividend rate increase.
Ecolab has paid cash dividends on its common stock for 83 consecutive years.
Commenting on the increase, Douglas M. Baker, Jr., Ecolabs Chairman and Chief Executive Officer said, The cash dividend increase continues our commitment to enhancing total shareholder returns through both our strong business performance and returning cash to shareholders. This smaller than typical increase for 2020 reflects the anticipated impact the planned spin-off of our upstream energy business will have on our earnings. We intend to continue increasing the cash dividend going forward and do so in a manner that maintains our post spin-off payout ratio at our historic levels.
About Ecolab A trusted partner at nearly three million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With annual sales of $15 billion and 49,000 associates, Ecolab delivers comprehensive solutions, data-driven insights and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world. For more Ecolab news and information, visit www.ecolab.com. Follow us on Twitter @ecolab or Facebook at facebook.com/ecolab.