Brady Corporation (BRC) will raise its quarterly dividend by another 2.4 percent to $0.2175 per share in 2019. This follows a similar dividend hike last year and marks the company's 34th consecutive year of annual dividend increases.

The next dividend will be paid on October 31, 2019, to shareholders of record at the close of business on October 10, 2019. A new annualized rate of 87 cents per share yields 1.6% at a stock price of $53.66.

Brady Corporation is a manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. Its IDS segment includes identification and healthcare products, and the WPS segment includes workplace safety and compliance products. The company's brands include Electromark, Identicard, PromoVision, Scafftag, Seton and Emedco.  Founded in 1914, Brady has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries.