Terex Corporation (TEX) will raise its quarterly dividend by 9.1 percent to $0.12 per share in the first quarter of 2020. Last year the manufacturer of lifting and material processing products and services hiked its dividend by 10.0 percent.

The next dividend is to be paid on March 19, 2020 to all stockholders of record as of the close of business on March 6, 2020. A new annualized dividend rate of 48 cents per share yields 1.8% at  a stock price of $25.70.

Terex Corporation is a manufacturer of lifting and material processing products and services. The company has two business segments: Aerial Work Platforms and Materials Processing. Terex provides solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. The company has paid a dividend every year since 2013.