Ecolab (ECL) will increase its quarterly dividend from $0.275 to $0.33 per share, marking the 23rd consecutive year of dividend increases. The higher dividend will cost Ecolab about $66 million extra per year. Last year Ecolab hiked its dividend by 19.6%.

Ecolab Inc. provides water, hygiene and energy technologies and services. The company's cleaning and sanitizing programs and products, and pest elimination services, support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors. Ecolab's products are also used in water treatment, pollution control, energy conservation, oil production and refining, primary metals manufacturing, papermaking, mining and other industrial processes. Ecolab was incorporated in 1924 and has paid cash dividends on its common stock since 1936.