Systemax Inc. (SYX) will raise its quarterly dividend by 16.7 percent to 14 cents per share in 2020. Also the company will pay a $1.00 per share special dividend. This follows a 9.1 percent dividend hike by the direct marketing company last year, when a $6.00 per share special dividend was paid.

Both dividends will be payable on March 16, 2020 to shareholders of record as of the close of business on March 9, 2020. The regular annual dividend rate of 56 cents per share yields 2.7% at a stock price of $20.59 for Systemax.

In the company's press release announcing the fourth quarter 2019 financial results Systemax states that the special dividend and the increase in the quarterly dividend reflect the solid financial performance and strong cash flow generation the company delivered in 2019. The regular quarterly dividend reflects an increase of $0.02 or 16.7% per share and the company anticipates continuing a regular quarterly dividend in the future.

Systemax has now raised its dividend for three consecutive years and pays an estimated annual dividend of $21 million to its shareholders.

Systemax Inc. is a provider of industrial products in North America going to market through a system of branded e-Commerce websites and relationship marketers. The company's primary brand is Global Industrial. Other trademarks are: Global, GlobalIndustrial.com, Nexel Relius, Paramount and Interion. Its Consumer Electronics products include television and video; audio; cameras and surveillance; Global Positioning System (GPS); cell phones; video games, and home and electronics accessories. Systemax became a public company in 1995 and has paid a regular quarterly dividend since 2017.