Switch Inc. (SWCH) will hike its dividend by 70.1 percent to 5 cents per share quarterly in 2020. Last year the technology infrastructure company boosted its dividend by 100.0 percent to $0.0294 per share. Switch initiated a dividend in 2017.

The dividend will be payable on August 31, 2020 to all stockholders of record as of the close of business on August 18, 2020. A new annual rate of 20 cents yields 1.2% at a stock price of $17.23.

Switch, the technology infrastructure corporation headquartered in Las Vegas, Nevada is built on the intelligent and sustainable growth of the internet. Switch founder and CEO Rob Roy has developed more than 600 issued and pending patent claims covering data center designs that have manifested into the company's world-renowned data centers and technology solution ecosystems. The Switch Primes located in Las Vegas and Tahoe-Reno, Nevada; Grand Rapids, Michigan; and Atlanta, Georgia are the world's highest-rated hyperscale data center campus ecosystems with low latency to major U.S. markets.