By Colin Kellaher
Timken's board has bumped up the company's quarterly dividend by 2.9%, to 36 cents from 35 cents.
The new payout, equal to $1.44 a year, represents an annual yield of about 1.24% based on Thursday's closing price of $116.34, up from 1.2%.
The North Canton, Ohio, maker of engineered bearings and industrial-motion products on Friday said the increased dividend is payable May 29 to shareholders of record May 19.
Write to Colin Kellaher at colin.kellaher@wsj.com