Jack Henry & Associates (JKHY) will increase its quarterly dividend by 7.5 percent to $0.43 per share in the first quarter of 2020. This follows a dividend hike of 8.1 percent by the payment processing and technology solutions company last year and marks 29 consecutive years of annual dividend increases.

The next dividend is payable on March 19, 2020, to stockholders of record as of March 2, 2020. A new annualized dividend rate of $1.72 per share yields 1.0% at a stock price of $172.

In the company's press release Kevin D. Williams, CFO of Jack Henry & Associates, stated, "The increase in our dividend reflects our on-going commitment to provide a good return on their investment for our shareholders. We established our dividend policy in 1990, and our dividend has increased every fiscal year since its inception. Our announcement of this dividend increase during our third fiscal quarter is consistent with previous years practice."

Jack Henry & Associates, Inc. is a provider of technology solutions and payment processing services primarily for the financial services industry. The company's three primary brands are Jack Henry Banking (information processing solutions for banks), Symitar (solutions for credit unions) and ProfitStars (risk and cost control products and services for financial institutions and corporate entities). Jack Henry & Associates has been a publicly traded company since 1985.