Lennox Increases Quarterly Dividend and Stock Repurchase Authorization
DALLAS, May 22, 2025 /PRNewswire/ -- The board of directors at Lennox (NYSE:LII), a leader in energy-efficient climate-control solutions, approved a 13% increase in the quarterly dividend from $1.15 to $1.30 per share of common stock, payable July 15, 2025, to stockholders of record as of June 30, 2025.
The Lennox Board of Directors also approved a $1 billion increase to its existing stock repurchase authorization, in addition to approximately $290 million remaining under prior authorizations as of May 12, 2025.
"The increase in our dividend and share repurchase authorization reflects our confidence in the company's performance and ability to generate strong, consistent cash flow," said Lennox Chief Financial Officer Michael Quenzer. "We remain committed to returning capital to shareholders, while maintaining a disciplined leverage profile and the flexibility to pursue strategic bolt-on M&A opportunities that accelerate growth."
Stock repurchases may be made from time to time at management's discretion. The stock repurchase program permits shares to be repurchased in a variety of methods, including open market purchases, accelerated share repurchases, or other privately negotiated transactions. The stock repurchase program has no time limit and may be suspended or discontinued at any time.
About Lennox
Lennox (NYSE: LII) is a leader in energy-efficient climate-control solutions. Dedicated to sustainability and creating comfortable and healthier environments for our residential and commercial customers while reducing their carbon footprint, we lead the field in innovation with our cooling, heating, indoor air quality, and refrigeration systems. Additional information on Lennox is available at www.lennox.com.
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SOURCE Lennox International Inc.