Universal Forest Products Raises Yearly Dividend

Universal Forest Products Inc. said its board has increased its yearly dividend to 20 cents. It will be paid Dec. 15 to shareholders of record as of Dec. 1.

The Grand Rapids, Mich.-based also said it has appointed a former Home Depot executive, Bruce Merino, to its board, effective Oct. 15.

Universal is a holding company for wood products makers.

Its shares rose a penny to $39.05 in aftermarket trading Monday after rising 85 cents to $29.04 during regular hours.

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