Ecolab raises cash dividend

Ecolab’s board of directors have announced they have increased the company’s quarterly cash dividend by eight per cent.

The raise – to $0.14 (0.09 pounds) per common share to be paid on December 16th – means the creation of a new indicated annual cash dividend of $0.56 per share for 2009, the company said.

Ecolab added it represents the organisation’s 17th consecutive annual rate increase.

Douglas Baker, Ecolab’s chairman, president and chief executive officer, said: “This dividend increase reflects our solid performance in 2008, our strong financial position and cash flows and our commitment to delivering superior returns for our shareholders through both our business progress and dividend growth.”

In other news, Ecolab has been placed top of Selling Power magazine’s list of The 50 Best Companies to Sell For.

It is now the fifth consecutive year the organisation has been given the title.

Last week, Ecolab unveiled a hand sanitiser dispenser – named FlexMount.

The product allows patients closer access via its adjustable clamp, which can attach to surfaces ranging from three-quarters to one and a half inches in diameter.

Based in Minnesota, USA, Ecolab was formed in 1923 under the name of Economics Laboratory.

The company changed its name to the current title in 1986 and now employs more than 26,000 people around the world.