Wabtec Increases Quarterly Dividend 20%

There's nothing like waking up on a Wednesday morning to find out you received a 20% pay raise for doing little more than holding some stock in a great company.  Today Wabtec(WAB) announced a 20% hike in their dividend to a quarterly rate of $0.12 from $0.10.  That comes out to a current dividend yield of around 0.58%. For their fiscal year Wabtec is projected to payout $0.46/share in dividends.   That's not a huge yield compared to some other holdings like Altria(MO) which sports a 3.6% yield.

Still WAB has raised it's dividend for 7 years in a row now, and sports a 10 year dividend growth rate of 36%.