Argan Raises Dividend by 25%

Dow Jones09-19

By Stephen Nakrosis

Argan Inc. said its board has approved a 25% increase to the company's quarterly cash dividend, raising it to 37.5 cents per share from 30 cents.

The new dividend will be payable on Oct. 31 to shareholders of record at the close of business on Oct. 23.

On an annual basis, the new dividend represents a payout of $1.50, and a dividend yield of 1.7%, based on the company's closing share price of $88.39 on Wednesday.

The company last raised its dividend in September of last year, from 25 cents per share to 30 cents.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 18, 2024 17:15 ET (21:15 GMT)

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