Dolby Laboratories (DLB) will raise its quarterly dividend by 15.8 percent to $0.22 per share in 2019. This marks the fifth consecutive year of dividend increases by the audio and video company.

The next dividend is payable on December 4, 2019, to stockholders of record as of the close of business on November 26, 2019. A new annual rate of 88 cents yields 1.3% at a stock price of almost $70.

Dolby Laboratories creates audio, video, and voice technologies that transform entertainment and communications in mobile devices, at the cinema, at home, and at work. The company's products enable more immersive sound for cinema, digital television transmissions and devices, mobile devices, OTT video services, DVD and Blu-ray Discs, speaker products, PCs, and gaming consoles. The majority of Dolby's revenue comes from licensing its audio technologies. The company also derives revenue from licensing its consumer imaging and communication technologies, as well as audio and imaging technologies for premium cinema offerings in collaboration with exhibitors. Finally, Dolby also provides products and services for a variety of applications in the cinema, broadcast, communications, and home entertainment markets. Dolby Laboratories was founded in 1965.