Dunkin’ Brands Group Inc. (DNKN) will raise its quarterly dividend by 7.3 percent to $0.4025 per share in the first quarter of 2020. This marks the 8th consecutive year of dividend increases by the baked goods and coffee company.

The increased dividend is payable on March 18, 2020, to shareholders of record as of the close of business on March 9, 2020. A new annualized dividend rate of $1.61 per share yields 2.1% at a stock price of $75.46.

Dunkin' Brands Group, Inc. is a franchisor of quick service restaurants serving hot and cold coffee and baked goods, as well as hard-serve ice cream. The Company franchises restaurants in the United States and international under its Dunkin' Donuts and Baskin-Robbins brands. Dunkin' Brands Group, Inc., headquartered in Canton, Mass., became a public company in 2011.