By Connor Hart

Lindsay Corp. raised its quarterly cash dividend by a penny, to 38 cents a share.

The new payout, equal to $1.52 a year, represents an annual yield of about 1.2% based on Friday's closing price of $122.12.

The company, which manufactures and distributes irrigation and infrastructure equipment and technology, on Monday said the higher dividend will be paid Aug. 31 to shareholders of record as of Aug. 17.

Write to Connor Hart at connor.hart@wsj.com