Communications products maker Motorola Solutions (MSI) will increase its quarterly dividend by 10.9 percent to 71 cents per share. Last year the communication products company raised its quarterly dividend by 12.3 percent to $0.64 per share, marking 8 straight years of higher dividends paid to shareholders. The year 2020 will mark the ninth consecutive year of dividend increases announced by MSI.
The increased dividend will be paid on January 15, 2021 to shareholders of record on December 15, 2020. The new annualized dividend of $2.84 per share for Motorola Solutions yields 1.7 percent at a stock price of $169.16.
Calculations by dividendhike.com show that Motorola Solutions will now pay an estimated $482 million in dividends to shareholders annually. The company has announced 9 dividend hikes in the last nine years with a double digit hike in seven of those nine years.
Motorola Solutions, Inc. is a provider of communication infrastructure, devices, accessories, software and services. The company makes communications products and services for public safety and government agencies (law enforcement, fire, emergency medical services, and national government security) as well as private entities including utilities, mining, energy, manufacturing, hospitality, retail, transportation and logistics.