Johnson Outdoors (JOUT) will raise its quarterly dividend by 23.5 percent to 21 cents per share in 2020. This follows a 21.4 percent to $0.17 per share in 2019. In 2018 the outdoor recreation products maker hiked its dividend twice (+40 pct).

The next quarterly cash dividend is payable on October 23, 2020, to shareholders of record at the close of business on October 23, 2020. A new annual rate of $0.84 per share yields 1.0% at a stock price of $82.

In the company's press release dated September 25, 2020 Johson Outdoors also comments on this new dividend hike.“Johnson Outdoors’ balance sheet remains strong, and the dividend increase reflects our confidence in our business performance and strategic plans,” said David W. Johnson, Vice President and Chief Financial Officer.

Johnson Outdoors has now announced a dividend hike for six consecutive years, with double digit increases announced in the last five years. Dividend growth has been accelerating with an increase of more than 20 percent in 2018, 2019 and now also 2020. The company will pay an estimated annual dividend of approximately $8 million to shareholders now.

Johnson Outdoors Inc. is a manufacturer of outdoor recreation equipment and technologies. The company designs, manufactures and markets a portfolio of brands across four categories: Watercraft Recreation, Fishing, Diving and Camping.  Johnson Outdoors' brands include: Old Town canoes and kayaks; Ocean Kayak; Carlisle paddles; Minn Kota fishing motors, batteries and anchors; Cannon downriggers; Humminbird marine electronics and charts; SCUBAPRO dive equipment; Jetboil outdoor cooking systems; and, Eureka!camping and hiking equipment. Johnson Outdoors reinstated a quarterly dividend in 2013.