Federal Signal Doubles Its Dividend

Federal Signal Corp. said on Friday that it raised its quarterly cash dividend to 6 cents a share, double the previous dividend of 3 cents a share. The industrial company's new dividend will be paid out on March 27 to shareholders of record as of March 9. Based on current prices, the new annual dividend implies a yield of 1.5%, compared with 2% for the S&P 500, according to FactSet. The stock was up 0.6% in morning trade. It has rallied 4% over the past three months, while the S&P 500 has gained 2%.