Quaker Houghton (KWR), formerly known as Quaker Chemical (KWR), will raise its quarterly dividend by 2.6 percent to 39.5 cents per share in 2020. This follows last year's 4.1 percent dividend hike to $0.385 per share quarterly in 2019. The chemical specialties company has now raised its annual dividend 13 consecutive calendar years.

The next dividend is payable on October 30, 2020, to shareholders of record at the close of business on October 16, 2020. A new annual rate of $1.58 per share yields 0.8% at a stock price of $189.72.

In the company's press release dated September 16, 2020, announcing this new dividend hike, Michael F. Barry, Chairman, Chief Executive Officer and President commented, "We are pleased to announce our 11th consecutive dividend increase and our 44th increase since going public in 1972.  We are proud of our track record of 49 years of uninterrupted dividends. While the business environment continues to be challenging and volatile due to COVID-19, our cash flow remains strong and we are confident in our ability to continue to serve our customers and our shareholders well."

The company formerly known as Quaker Chemical will now pay an estimated annual dividend amount of $28 million to shareholders. This year's dividend hike is the smallest since 2013, when Quaker Chemical announced a 2.0 percent increase. The company did not announce a dividend hike in both 2007 and 2009 and raised its quarterly payment by double digits only in 2014, with a 20 percent dividend boost.

Quaker Houghton, formerly Quaker Chemical, is a global provider of process fluids, chemical specialties, and technical expertise to a wide range of industries, including steel, offshore, metalworking, aluminum, automotive, mining, aerospace, tube and pipe and cans. The company's segments include North America, Europe, Middle East and Africa (EMEA), Asia/Pacific and South America.  Quaker Houghton is headquartered in Conshohocken, Pennsylvania, located near Philadelphia in the United States. The company has paid uninterrupted dividends to shareholders every year since going public in 1972.