HP Inc. (HPQ) will raise its quarterly dividend by another 10.0 percent in 2020, following a similar 10.0 percent hike to $0.1762 per share announced in 2019. This will mark the 10th consecutive year of dividend increases by the computer hardware maker.

The next dividend is payable on January 6, 2021, to stockholders of record as of the close of business on December 9, 2020. The new annualized dividend rate of approximately 78 cents per share yields 3.5% at a stock price of $22.19.

HP Inc. will now pay its shareholders an estimated annual dividend of almost $1.1 billion. The dividend has been hiked by at least double digits for three consecutive years now by the company originally founded by William R. Hewlett and David Packard.

HP Inc. is a provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The company sells to individual consumers, small- and medium-sized businesses (“SMBs”) and large enterprises, including customers in the government, health and education sectors. The original HP was incorporated in 1947 under the laws of the state of California as the successor to a partnership founded in 1939 by William R. Hewlett and David Packard. The company went public on November 6, 1957.