Rockwell Automation, Inc. (ROK) will raise its quarterly dividend by 5.2 percent to $1.02 per share in 2019. This follows last year’s five cent per share dividend hike from 92 cents to 97 cents per share quarterly.

The next quarterly dividend is payable December 10, 2019 to shareowners of record at the close of business on November 12, 2019. A new annualized rate of $4.08 per share yields 2.3% at a stock price of $175.

“Our Connected Enterprise strategy generates strong, sustainable cash flow,” said Blake Moret, Rockwell Automation chairman and CEO. “Over the last five fiscal years, we have returned $6 billion of cash to shareowners through dividends and share repurchases.” “The 5 percent increase reflects our confidence in Rockwell Automation’s ability to generate cash throughout the cycle and our commitment to returning cash to shareowners while investing in our business,” said Moret.

Rockwell Automation, Inc. is a provider of industrial automation power, control and information solutions for manufacturers. The company’s  segments are Architecture & Software and Control Products & Solutions. Rockwell’s Allen-Bradley brand provides automation components and integrated control systems. The company’s Rockwell Software brand provides information, visualization and control software. Other brands include ACP, Anorad, Guardmaster, Hengsheng, Hinz, Hiprom, ICS Triplex, Lektronix, MagneMotion, Maverick Technologies and Pavilion Technologies. The company has paid a dividend every year since 1997.