The Reliance Worldwide Corporation share price just hit a new 52-week high

The Reliance Worldwide Corporation Aus P Ltd (ASX: RWC) share price hit a new 52-week high of $3.68 yesterday afternoon.

Shares of the plumbing manufacturing company are up 25% since their debut in April 2016, and up 17% in the past 12 months.

According to Google Finance, Reliance Worldwide Corporation (Aust.) Pty Ltd is a global provider of water control systems and plumbing solutions for domestic, commercial and industrial applications. The Company develops, assembles and delivers plumbing solutions to businesses and households across Australia and New Zealand through these product lines. The Company is headquartered in Brisbane. The company is best known for its Sharkbite push-to-connect (PTC) plumbing fittings.

Shares jumped higher after the company announced the completion of an acquisition, and fund managers Challenger Ltd (ASX:CGF) and Macquarie Group Ltd (ASX:MQG) took a significant position in the company.

At a share price of $3.68, Reliance Worldwide shares trade on 31 times full year forecast profit, and pay a forecast dividend yield of approximately 2%.

A Big, Fat, Fully Franked Dividend

This company's dividend is almost the stuff of legends. Since it started paying dividends in 2007, it has increased its payout to shareholders every single year, a run that includes 21 consecutive dividend increases.

Based on the last 12-months of dividends, its shares are currently offering a fully-franked 4.8% yield, which grosses up to almost 7% when those franking credits are included. And in stark contrast to the likes of Commonwealth Bank and Telstra, this company just increased its dividend by over 13%, and guided for 2017 profits to grow by 20%!

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Motley Fool contributor Sean O'Neill has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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