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Barnes Group
Barnes Group Declares Quarterly Dividend
Barnes Group Inc. Announces Quarterly Dividend
Dividend Declared on May 6, 2023
The Board of Directors of Barnes Group Inc. has declared a quarterly cash dividend of sixteen cents per share. The dividend is payable on June 15, 2023, to shareholders of record as of the close of business on May 22, 2023.
This is the company's first dividend since it was spun off from Ingersoll Rand in 2014. Barnes Group has been struggling in recent years, but it is in the midst of a transformation process. The company has been selling off non-core businesses and investing in new products and technologies. The dividend declaration is a sign that the company is confident in its future.
Conclusion
The declaration of a quarterly dividend is a positive sign for Barnes Group. It shows that the company is confident in its future and that it is committed to returning cash to shareholders. The dividend yield is currently 1.6%, which is in line with the average yield for industrial companies. Investors who are looking for a solid dividend stock may want to consider Barnes Group.
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