Patrick Industries, Inc. (PATK) has reported a significant development concerning its quarterly cash dividend on common stock, which has been increased to $0.60 per share from the previous $0.55 per share. This revised dividend is scheduled for payment on December 9, 2024, to shareholders who are recorded as of the close of business on November 25, 2024.
In addition, the Board has approved an expansion of the company's common stock repurchase program over the upcoming 24 months. The total authorization for repurchases now stands at $200.0 million, which includes the $72.9 million that remained from the previous authorization.