Dunkin’ Brands Group Inc. (DNKN) will suspend its quarterly dividend in 2020 because of the COVID-19 pandemic.

The company last raised its quarterly dividend by 7.3 percent to $0.4025 per share in the first quarter of 2020. This marked the 8th consecutive year of dividend increases by the baked goods and coffee company.

Dunkin' Brands Group, Inc. is a franchisor of quick service restaurants serving hot and cold coffee and baked goods, as well as hard-serve ice cream. The Company franchises restaurants in the United States and international under its Dunkin' Donuts and Baskin-Robbins brands. Dunkin' Brands Group, Inc., headquartered in Canton, Mass., became a public company in 2011. The company had paid a dividend every year to shareholders since 2012 before the suspension in 2020 related to the COVID-19 pandemic.