Motorola Solutions (MSI) will raise its quarterly dividend by 14.6 percent to $0.47 per share in the fourth quarter of 2016.

The next quarterly dividend will be payable in cash on Jan. 13, 2017, to stockholders of record at the close of business on Dec. 15, 2016. The new dividend yield for MSI is 2.4% based on the new annual dividend of $1.88 per share and a current stock price of $78.96.

Motorola Solutions, Inc. is a provider of communication infrastructure, devices, accessories, software and services. The company makes communications products and services for public safety and government agencies (law enforcement, fire, emergency medical services, and national government security) as well as private entities including utilities, mining, energy, manufacturing, hospitality, retail, transportation and logistics.