: A.O. Smith increases dividend

A.O. Smith Corp. AOS on Monday said that its board approved a 7% increase in the company’s quarterly cash dividend rate to 32 cents a share. The company, which makes water-heating equipment and water-treatment products, said the move reflected “our confidence in the stability in our replacement demand inherent in our water heating and boiler businesses, as well as our focus on returning capital to shareholders.” Shares slipped 0.7% after hours.

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