FMC Corporation (FMC) will raise its quarterly dividend by 10.0 percent to $0.44 per share. This marks the second dividend hike since 2015 for the agricultural chemicals company. Last year the dividend was increased by 142.4 percent.

The next dividend is payable on January 16, 2020, to shareholders of record as of the close of business on December 31, 2019. A new annualized dividend rate of $1.76 per share yields

"Today's dividend increase is in line with the Company's previously communicated policy to regularly reward shareholders by increasing the dividend at least at the same rate of net income growth," said Andrew Sandifer, executive vice president and chief financial officer at FMC in today's press release.

FMC Corporation is an agricultural sciences company. FMC provides solutions to growers around the world with a portfolio of proprietary crop protection products and a robust pipeline fueled by innovative discovery and development capabilities in crop protection, plant health and professional pest and turf maintenance solutions. The company's insect control products include Rynaxypyr and Cyazypyr branded active ingredients; Authority, Boral, Centium, Command and Gamit branded herbicides; Talstar and Hero branded insecticides; and flutriafol-based fungicides. The FMC portfolio also includes biologicals such as Quartzo and Presence bionematicides. In October 2018, FMC conducted an initial public offering of its Lithium business by spinning off Livent Corporation.