Danaher Corporation (DHR) will raise its quarterly dividend by 5.9 percent to $0.18 per share in 2020. This follows a 6.3 dividend increase to 17 cents per share in the previous year by the industrial conglomerate.

The increased dividend is payable on April 24, 2020 to holders of record on March 27, 2020. A new annualized dividend rate of 72 cents per share yields 0.4% at a stock price of $161.88.

Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. Danaher’s business consists of four segments: Life Sciences; Diagnostics; Dental; and Environmental & Applied Solutions. Danaher Corporation, originally DMG, Inc., was organized in 1969 as a Massachusetts real estate investment trust. In 1978 it was reorganized as a Florida corporation under the name Diversified Mortgage Investors, Inc. which in a second reorganization in 1980 became a subsidiary of a newly created holding company named DMG, Inc. DMG, Inc. adopted the name Danaher in 1984 and was reincorporated as a Delaware corporation in 1986.