Broadridge Financial Solutions (BR) will raise its quarterly dividend by 6.5 percent to 57.5 cents per share in 2020. This comes after a dividend hike of 11.3 percent to $0.54 per share in 2019 and will mark 14 consecutive calendar years of dividend increases by the provider of investor communications.

The next dividend is payable on October 5, 2020 to shareholders of record on September 15, 2020. The new annual dividend of $2.30 per share yields 1.7% at a stock price of $138.

In the press release announcing fiscal 2020 results the company mentions a dividend record of 14 years, which is most likely based on fiscal years instead of calendar years that we normally use to calculate the dividend record that would be 13 years based on calendar years: "Despite macroeconomic uncertainty, our outlook for fiscal 2021 calls for continued organic growth, anchored by a record revenue backlog, and balances cost discipline and increased investment that will position us to take advantage of the recovery and drive long-term growth. To further underscore our confidence in our outlook, we are raising our annual dividend for the fourteenth consecutive year, every year since becoming a public company," Mr. Gokey concluded.

Year-to-date the stock price of Broadridge is up 11.8 percent at a stock price of $138.14, resulting in a market cap of $15.9 billion. The company now pays an estimated $264 million in dividends to shareholders annually. The average annual dividend growth rate is 13.9 percent in the last five years.

Broadridge Financial Solutions, Inc. (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The company delivers a range of solutions that helps its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing functionality. Broadridge has raised its annual dividend every year since becoming a public company in 2007.