MEDINA, Ohio (AP) — RPM International Inc. said Thursday that its board raised the company's regular quarterly cash dividend by 1 cent, to 22.5 cents.

The new dividend, which represents a 4.7 percent increase, will be paid on Oct. 31 to shareholders of record as of Oct. 15.

RPM's subsidiaries make specialty coatings, sealants and building materials. Shares of the Medina, Ohio-based rose 19 cents to $27.21 in afternoon trading.