Amphenol Corp (APH) will raise its quarterly dividend by 16.0 percent to 29 cents per share in 2020. This follows a 8.7 percent hike to $0.25 per share in 2019. Amphenol, a manufacturer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products and coaxial and high-speed specialty cable, has now raised its dividend 9 consecutive years.

The next dividend will be paid on January 6, 2021 to holders of record of the Company’s Class A Common stock as of December 15, 2020. A new annual dividend rate of $1.16 per share yields 1.1% at a stock price of $95.28.

In the company's press release announcing Q3 results and the dividend hike Amphenol President and Chief Executive Officer, R. Adam Norwitt, stated: “It is extremely rewarding that even in this challenging environment the Company’s experienced management team continued to react quickly to capitalize on opportunities to reach these new record levels of revenue and earnings. In addition, third quarter operating margins significantly improved from the second quarter, reaching a very strong 20.5%, and operating cash flow was $398 million, a clear confirmation of the quality of the Company’s earnings. The Company continues to deploy its financial strength in a variety of ways to increase shareholder value. To that end, the Company purchased 1.9 million shares of its common stock during the quarter for $202 million and paid dividends of $75 million. In addition, the Board of Directors has approved a 16% increase in our quarterly dividend, from $0.25 to $0.29 per share.”

Amphenol now pays an estimated $346 million in dividends to its shareholders annually. The dividend was raised by double digits in eight out of the last nine years.

Amphenol Corporation is a manufacturer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products and coaxial and high-speed specialty cable. The company serves the Automotive, Broadband Communications, Commercial Aerospace, Industrial, Information Technology and Data Communications, Military, Mobile Devices and Mobile Networks markets.