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Linde plc LIN announced that it has got authorization from the board of directors to increase its quarterly dividend.

The new dividend of $1.39 per share, reflecting an increment of 9% from the prior quarter, will likely be paid on Mar 28 to shareholders of record on Mar 14. Thus, the leading global industrial gases and engineering company has increased quarterly dividend for 31 successive years. This reflects the company’s strong commitment to returning capital to shareholders. In fact, through dividend payments and share repurchases, Linde returned a handsome $6.4 billion to shareholders last year.

The consistency in returning capital to investors reflects the firm’s stable and robust business model. LIN’s bottom line is safeguarded by the diversity of its customer base and the minimum purchase volume required for contracts with large customers, effectively mitigating downside risks.

Currently, the stock carries a Zacks Rank #3 (Hold). Some better-ranked players in the basic material space are Alpha Metallurgical Resources, Inc. AMR, Suzano SA SUZ and Ur-Energy Inc. URG. While Alpha Metallurgical sports a Zacks Rank #1 (Strong Buy), Suzano and Ur-Energy carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Alpha Metallurgical is a well-known supplier of metallurgical products for the steel industry in the United States. For 2024, the stock has witnessed upward earnings estimate revisions over the past 30 days.

Suzano is a well-known producer of eucalyptus pulp and paper products in Brazil and worldwide. For this year, the stock has witnessed upward earnings estimate revisions over the past 30 days.

Cameco is also a leading name in the basic material space and is among the largest providers of uranium fuel across the world. In 2024, the company is likely to see earnings growth of 238.2%.

Ur-Energy is a well-known name as a uranium mining company. For this year, the stock is likely to see earnings growth of almost 144%.

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