Universal Forest Products increases dividend

GRAND RAPIDS, Mich. (AP) -- Universal Forest Products Inc. said Thursday that it is increasing its dividend by 5 percent.

The company's semiannual dividend payment of 21 cents per share is payable on Dec. 15 to shareholders of record on Dec. 1. That is up from its most recent dividend of 20 cents.

Universal Forest Products, which sells wood products for building materials and related materials through its subsidiaries, said the move underscores its optimism for the company and its future.

The Grand Rapids, Mich., company's shares increased $4.15, nearly 10 percent, to close at $46.66.