Luminex Corporation (LMNX) will increase its quarterly dividend by 50.0 percent to $0.06 per share in 2019. This is the first dividend hike since a quarterly dividend was initiated in 2017.

The next dividend will be paid on October 17 to shareholders of record on September 26, 2019. The new annual rate of 36 cents per share yields 1.8% at a stock price of $20.

"I am very pleased with the continued progress we are making across the company," said Nachum "Homi" Shamir, President & CEO. "Consistent with our previously communicated plans, we expect to end this year as a much more diversified company with increasing momentum and an exciting portfolio," continued Shamir.  "We believe that by the end of 2019, we will have returned to consistent profitability and cash flow, and will be growing at an accelerated organic rate with an improving gross margin position.  Due to our confidence in the future of the company and our desire to share our success with our shareholders, we have increased our quarterly dividend by 50% to $0.09/share."

Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries.