Morningstar (MORN) will raise its quarterly dividend by 7.1 percent to $0.30 per share in the first quarter of 2020. This is the investment research provider's 9th consecutive year of dividend increases.

The next dividend is payable January 31, 2020 to shareholders of record as of January 3, 2020. A new annual dividend rate of $1.20 per share yields 0.8% at a stock price of $154.47.

"As an important component of our balanced capital allocation strategy, we've consistently increased our dividend every year since its inception in 2010," said Kunal Kapoor, chief executive officer of Morningstar. "The addition of DBRS to the Morningstar family this year, along with continued strength in our key product areas, gives us confidence in our ability to continue empowering investor success, and by extension, building a sustainably strong business."

Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia, and Asia. The company offers products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar has been publicly traded since May 2005.