Herman Miller (MLHR) will raise its quarterly dividend by 15.3 percent to $0.17 per share in 2016. This increase comes after last year's 5.4 percent dividend hike.

Brian Walker, Chief Executive Officer, stated, "Strong net sales and order growth were a clear highlight of our results this quarter, capping a full fiscal year that set an all-time record level of sales for our company. We also delivered a year-over-year increase in adjusted earnings per share of 19% in the fourth quarter. Our fifth dividend increase in the past four years reflects the confidence of the Board and our leadership team in the power of our long-term strategy to create shareholder value. These results are a tribute to the talent and effort of our people and they demonstrate the meaningful progress we have made on our strategic priorities."

Herman Miller, Inc. is a provider of furnishings and related technologies and services. The company researches, designs, manufactures, and distributes interior furnishings for use in various environments including office, healthcare, educational, and residential settings and provides related services for organizations and individuals worldwide. The company's brands include Colebrook Bosson Saunders, Design Within Reach, Geiger, HAY, Maars Living Walls, Maharam, naughtone, Nemschoff, and Herman Miller. The company was incepted in 1905, went public in 1970 and has paid a dividend since at least 1972.