Assurant (AIZ) will raise its quarterly dividend by 5.0 percent $0.63 per share in 2019. This follows a 7.1 percent dividend hike last year by the provider of risk management solutions.

The next dividend will be payable on December 16, 2019 to stockholders of record as of the close of business on November 25, 2019. A new annual rate of $2.52 per share yields 1.9% at a stock price of $130.

“Our commitment to disciplined capital management and ability to generate strong cash flows has allowed us to increase our common stock dividend each year since our 2004 initial public offering,” said Alan Colberg, president and CEO, Assurant. “Earlier this year we announced our objective to return $1.35 billion to shareholders by the end of 2021, with common stock dividends being an important element of our capital return strategy.”

Assurant, Inc. is a provider of risk management solutions in the housing and lifestyle markets, protecting where people live and the goods they buy. The company operates in North America, Latin America, Europe and Asia Pacific through three operating segments: Global Housing, Global Lifestyle and Global Preneed. Assurant, Inc. was incorporated as a Delaware corporation in 2004 and has paid a dividend every year since the company went public.