Lincoln National Corporation will raise its quarterly dividend by 5 percent to 42 cents per share in 2020. This comes after a 8.1 percent hike to $0.40 per share last year. The insurance company has now raised its dividend 11 straight years.

The next dividend is payable on February 1, 2021 to shareholders of record at the close of business on January 10, 2020. A new annual rate of $1.68 per share yields 4.9% at a stock price of $34.07.

Lincoln National Corporation is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies. Through its business segments, the company sells wealth protection, accumulation and retirement income products and solutions. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. LNC was organized under the laws of the state of Indiana in 1968.