Perspecta Inc (PRSP) will raise its quarterly dividend by 20.0 percent to $0.06 per share in 2019. Last year the IT-services company start paying a quarterly dividend of $0.05 per share following its separation from DXC Technology earlier in 2018.

The dividend is payable July 16, 2019 to shareholders of record at the close of business on June 5, 2019. A new annual rate of 24 cents yields 1.1% at a stock price of $22.53.

"This dividend increase demonstrates the confidence of the board of directors and management team in the strength of the company's cash flow generation and ability to generate value for our shareholders," said Mac Curtis, president and chief executive officer of Perspecta. "We are committed to returning cash to shareholders as part of our balance capital allocation program, and the dividend is an important component of that plan. We still have ample flexibility to pay down debt and make disciplined investments for sustainable growth."

Perspecta Inc. provides end-to-end information technology services and mission solutions to government customers. The Company serves intelligence, defense, space, federal civilian, federal healthcare and state and local governments. It provides various solutions in mission services, digital transformation and enterprise operations. Perspecta initiated a quarterly dividend in 2018 following the separation from DXC Technology earlier that year.