Houlihan Lokey (HLI) will raise its quarterly dividend by 6.5 percent to 33 cents per share in 2020. This follows a 14.8 percent dividend hike to $0.31 per share in 2019 and marks the 5th consecutive year of dividend increases by the investment bank.

The next dividend will be payable on September 15, 2020 to stockholders of record as of the close of business on September 2, 2020. A new annual rate of $1.32 per share yields 2.3% at a stock price of $59.

Houlihan Lokey, Inc. is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. The company was stablished in 1972 and has been paying a dividend every year since 2015 when Houlihan Lokey became a public firm.