Lincoln National Corporation will raise its quarterly dividend by 8.1 percent to $0.40 per share next year. This follows a 4 cent per share dividend increase from 33 cents to 37 cents per share announced by the company last year.

The next dividend is payable on February 1, 2020 to shareholders of record at the close of business on January 10, 2020. A new annual rate of $1.60 per share yields 2.6% at a stock price of $61.68.

Lincoln National Corporation is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies. Through its business segments, the company sells wealth protection, accumulation and retirement income products and solutions. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. LNC was organized under the laws of the state of Indiana in 1968.