Broadridge Financial Solutions (BR) will raise its quarterly dividend by 11.3 percent to $0.54 per share in 2019. This follows a 32.9 percent dividend hike by the financial solutions provider last year.

The next dividend is payable on October 3, 2019 to shareholders of record on September 13, 2019. The new annual dividend of $2.16 per share yields 1.7% at a stock price of $128.

"Fiscal year 2019 was a strong year as we generated double-digit EPS growth and executed against our strategic goals," said Tim Gokey, Broadridge's President and Chief Executive Officer. "Broadridge achieved 6% Recurring fee revenue growth and 11% Adjusted EPS growth. We also closed out the year on a very positive note as a strong fourth quarter powered another year of record Closed sales, and we made three tuck-in acquisitions that will further strengthen our business.

Tim Gokey, Broadridge's President and Chief Executive Officer stated: "Today, we are announcing an 11% increase to our annual dividend for fiscal 2020 to $2.16 per share," "Broadridge has now increased its annual dividend every year since becoming a public company, and 2019 marks the eighth consecutive double-digit increase.

Broadridge Financial Solutions, Inc. (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company delivers a range of solutions that helps its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing functionality. Broadridge has raised its annual dividend every year since becoming a public company in 2007.