Herman Miller (MLHR) will raise its quarterly dividend by 9.7 percent to $0.1975 per share in 2018.

Last year the quarterly dividend was hiked by $0.01 to $0.18 per share. The company has now increased its dividend for 7 consecutive years.

The next dividend will be paid on October 15, 2018 to stockholders of record as of the close of business on September 1, 2018. Based on today's closing price of $38.30 the new dividend yield for MLHR is 2.1%.

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.