Patrick Rewards Investors With 9% Dividend Hike: Will It Sustain?

In a bid to reward shareholders, Patrick Industries, Inc. (PATK) announced a 9.1% hike in its quarterly dividend.On Nov. 14, Patrick’s board of directors increased the quarterly cash dividend to 60 cents per share from 55 cents paid earlier. The dividend will be payable on Dec. 9, 2024, to its shareholders of record as of the close of business on Nov. 25.Regular Enhancement of Shareholder ValueThe company has been driving shareholder value through regular dividend hikes, share repurchase programs and reinve ...