Kohl's Corporation (KSS) will raise its quarterly dividend by 5.1 percent to $0.704 per share in 2020. This follows last year's 9.8 cent per share dividend increase and marks 9 straight years of dividend increases by the retailer.

The next dividend is payable April 1, 2020 to shareholders of record at the close of business on March 18, 2020. A new annualized dividend rate of $2.816 per share yields 7.5% at a stock price of $36.56.

Kohl's Corporation is an omnichannel retailer. The company sells private label, exclusive and national brand apparel, footwear, accessories, beauty and home products in its department stores, FILA outlets, Off-Aisle clearance centers and through its website. Kohl's sells moderately-priced proprietary and national brand apparel, footwear, accessories, beauty and home products. The company's merchandise mix includes both national brands and proprietary brands that are available only at Kohl's. Its proprietary portfolio includes well-known established private brands such as Apt. 9, Croft & Barrow, Jumping Beans, SO and Sonoma Goods for Life and exclusive brands that are developed and marketed through agreements with nationally-recognized brands such as Food Network, LC Lauren Conrad, Elle and Simply Vera Vera Wang. National brands generally have higher selling prices, but lower gross margins, than proprietary brands. Kohl’s Corporation was organized in 1988 and is a Wisconsin corporation.