Sirius XM Holdings Inc. (SIRI) will raise its quarterly dividend by 10.0 percent to $0.0121 per share in the fourth quarter of 2018.

This marks the second consecutive year of dividend increases by satellite radio systems company since 2016, when a $0.01 per share quarterly dividend was initiated.

The increased quarterly dividend is payable in cash on November 30, 2018 to stockholders of record at the close of business on November 9, 2018. The ex-date for this next dividend of 1.21 cents is November 8, 2018.

Sirius XM has now increased its quarterly dividend by 10% in each of the past two years. The new annual dividend of 4.84 cents per share yields 0.8% at a stock price of $5.95.

Sirius XM Holdings Inc. transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its two satellite radio systems. The company also provides connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.