Skyworks Solutions (SWKS) will increase its quarterly dividend by 13.6 percent to 50 cents per share quarterly in 2020. Last year the semiconductor company increased its dividend by 15.8 percent to $0.44 per share, marking the 5th consecutive year of dividend increases.

The next increased dividend of 50 cents is payable on Sept. 1, 2020, to stockholders of record at the close of business on Aug. 11, 2020. A new annual rate of $2.00 per share yields 1.5% at a stock price of $131.60 for Skyworks.

In a press release the company reported Q3 FY20 results and also announced this dividend hike. “Looking ahead to the fourth fiscal quarter, we expect double-digit sequential revenue and earnings per share growth driven by the strong demand for our market-leading solutions,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the fourth fiscal quarter of 2020, we anticipate revenue to be between $830 million and $850 million with non-GAAP diluted earnings per share of $1.51 at the midpoint of our revenue range. Further, given our confidence in Skyworks’ strategic outlook and strong cash flow generation, we are announcing another substantial raise to our quarterly dividend.”

Skyworks has increased its dividend by at least double digits in each of the last six years with an average dividend of 14.0 percent on average in the last five years. Annually the company now pays approximately $340 million in dividends to shareholders. Skyworks currently has a market cap of almost $22 billion with the stock price of 56 percent year-to-date.

Skyworks Solutions Inc. is a manufacturer of analog semiconductor products for the aerospace, automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.  Skyworks operates worldwide with engineering, manufacturing, sales and service facilities throughout Asia, Europe and North America. The company was formed in 1962 and changed its corporate name from Alpha Industries, Inc. to Skyworks Solutions, Inc. on June 25, 2002, following a business combination. Skyworks has paid a dividend every year since 2014.