Primerica (PRI) will raise its quarterly dividend by 17.6 percent to $0.40 per share in the first quarter of 2020. Last year the distributor of financial products to middle-income households hiked its dividend by 36.0 percent.

The next dividend is payable on March 16, 2020, to stockholders of record on February 24, 2020. A new annualized dividend rate of $1.60 per share yields 1.2% at a stock price of $136.84.

Primerica, Inc., headquartered in Duluth, GA, is a provider of financial services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which Primerica underwrites, and mutual funds, annuities and other financial products, which the company distributes primarily on behalf of third parties. Primerica became a public company in 2010 and has paid a dividend every year since.