Seagate Technology (STX) will raise its quarterly dividend by 3.2 percent to $0.65 per share. This is the first dividend increase by the provider of electronic data storage technology and solutions since 2015.

The next dividend is payable on January 8, 2020 to shareholders of record as of the close of business on December 26, 2019. A new annual rate of $2.60 per share yields 4.5% at a stock price of $57.62.

Seagate Technology is a provider of data storage technology and solutions. The company's principal products are hard disk drives, hard drives or HDDs. In addition to HDDs, Seagate produces a broad range of data storage products including solid state drives (“SSDs”), solid state hybrid drives (“SSHDs”) and storage subsystems. Seagate went public on December 11, 2002 and has paid a dividend every year since 2003.