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May 19, 2022, 10:07 a.m. EDT

Lennox lifts dividend to boost yield above the 2% mark

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By Tomi Kilgore

Shares of Lennox International Inc. /zigman2/quotes/201985817/composite LII +2.31% rose 0.7% after the climate-control products company raised its dividend enough to lift the dividend yield above the 2% mark. The company said its quarterly dividend was increased to $1.06 a share, up 15% from the previous dividend of 92 cents a share. Based on current stock prices, the new annual dividend rate implies a dividend yield of 2.08%, compared with the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.16% of 1.64%. Lennox's stock has tumbled 37.1% year to date, while the S&P 500 has dropped 18.0%.

/zigman2/quotes/201985817/composite
US : U.S.: NYSE
$ 216.86
+4.89 +2.31%
Volume: 560,080
July 5, 2022 4:00p
P/E Ratio
17.37
Dividend Yield
1.96%
Market Cap
$7.61 billion
Rev. per Employee
$388,827
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/zigman2/quotes/210599714/realtime
US : S&P US
3,831.39
+6.06 +0.16%
Volume: 2.51B
July 5, 2022 5:04p
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