Herman Miller (MLHR) will raise its quarterly dividend by 6.3 percent to $0.21 per share in 2019. Last year the quarterly dividend was hiked by $0.0175 to $0.1975 per share. 

The furniture company has now increased its dividend for 8 consecutive years. A new annual rate of 84 cents per share yields 1.9% at a stock price of $44.09.

Andi Owen, Chief Executive Officer, stated, "Strong demand was a clear highlight of our results as we finished the quarter setting all-time records for quarterly and annual net sales for our Company. We leveraged this demand to deliver meaningful operating margin expansion over the same quarter last year. These results for the year are a tribute to the talent and effort of our people. At the same time, there is more work ahead, as we position ourselves behind a clear set of strategic priorities to drive sustainable, diversified revenue growth and long-term value creation for all of our stakeholders. As a result of our financial performance this year and strong balance sheet position, our Board of Directors approved a 6% increase in our quarterly dividend payout - an action that reflects the confidence of the Board and our leadership team in the power of our long-term strategy."

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.