Standex International (SXI) will raise its quarterly dividend by 9.1 percent to 24 cents per share in 2020. This follows a 10.0 percent dividend hike to $0.22 per share in 2019 and will mark the 11th consecutive year of annual dividend increases by the industrial company.

The next dividend is payable November 25, 2020 to shareholders of record on November 10, 2020. A new annual rate of 96 cents per share yields 1.5% at a stock price of $64. The dividend is the company's 225th consecutive quarterly cash dividend. Standex has paid dividends each quarter since it became a public corporation in November 1964.

Standex will now pay an estimated $12 million in dividends to its shareholders annually. This compares to a market cap of $792 million for the company. The average dividend growth rate in the last five years currently is 11.4 percent annually.

Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment, Engineering Technologies, Engraving, Electronics, and Hydraulics with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil, Argentina, Turkey, South Africa, India, China and Japan. Standex has paid dividends each quarter since it became a public corporation in November 1964.