Lennox lifts dividend to boost yield above the 2% mark

Shares of Lennox International Inc. /zigman2/quotes/201985817/composite LII +2.77% 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 +3.06% of 1.64%. Lennox's stock has tumbled 37.1% year to date, while the S&P 500 has dropped 18.0%.

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Lennox International Inc.

US : U.S.: NYSE

$ 203.64

+5.48 +2.77%

Volume: 440,032

June 24, 2022 4:00p

P/E Ratio

16.31

Dividend Yield

2.08%

Market Cap

$7.31 billion

Rev. per Employee

$381,282

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

3,911.74

+116.01 +3.06%

Volume: 3.46B

June 24, 2022 5:05p