Emerson (EMR) will raise its quarterly dividend by 1.0 percent in 2020. This comes after a 2.0 percent hike to $0.50 per share announced in 2019 by the Dividend Aristocrat. In fiscal 2020, Emerson completed 64 consecutive years of increased dividends per share.

The next dividend is payable December 10, 2020 to stockholders of record November 13, 2020. A new annual rate of $2.02 per share yields 2.9% at a stock price of $70.12. Emerson Electric will now pay an estimated $1.2 billion in dividends to its shareholders annually. The last time the company announced a double digit dividend hike was in 2011, with a 15.9 percent increase.

Emerson, formerly Emerson Electric, provides technology and engineering solutions for customers in a wide range of industrial, commercial and consumer markets around the world. The company's segments are Automation Solutions, and Climate Technologies and Tools & Home Products which together comprise the Commercial & Residential Solutions business. Emerson was founded in 1890 in St. Louis, Missouri, as a manufacturer of electric motors and fans and has increased its dividend every year since 1956.