Port Washington, New York-based Pall Corporation (PLL) recently increased its quarterly dividend by 19% from 21 cents to 25 cents a share. This equates to an annual pay out of $1.00 per share. The increased dividend will be paid on November 2, 2012, to stockholders of record as of October 12, 2012.

Pall Corporation has a history of increasing dividend every year since the inception of its dividend pay out in 1991. The recent hike in dividend brings the annual dividend yield to 1.6%, as of September 27, 2012.

Pall Corporation is a leading supplier of filtration, separation and purification technologies, using its engineering capability and fluid management expertise, proprietary filter media and other fluid clarification and separations equipment for the removal of solid, liquid and gaseous contaminants from a wide variety of liquids and gases. The company has a consistent track record of not only paying quarterly dividends but also increasing the same every year, supported by its cash position.

The last dividend hike of 20% to 21 cents was announced in October, 2011. Prior to that, Pall Corporation announced a dividend hike of 9% in October, 2010 and 10% in October, 2009.

The company reported a strong fourth quarter with as earnings surpassed the Zacks Consensus Estimate by 29%. Sales from continuing operation were $722.4 million, up 6.4% in local currency.

The company had cash and cash equivalents of $500.2 million as of June 30, 2012, which reiterates the fact that the company holds a strong cash position and has the ability to further boost shareholders’ value.

Pall Corporation currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We are also maintaining our long-term Neutral recommendation on the stock.