Ecolab (ECL) will raise its quarterly dividend by 2.1 percent to 48 cents per share in 2020. This follows a dividend hike of 2.2 percent to $0.47 per share announced by the Dividend Aristocrat in 2019. Ecolab has now raised its dividend 35 consecutive years.

The next dividend will be paid January 15, 2021, to shareholders of record at the close of business on December 15, 2020. A new annual rate of $1.92 per share yields 0.9% at a stock price of $223.

Commenting on the increase, Douglas M. Baker, Jr., Ecolab’s Chairman and Chief Executive Officer said, “While 2020 has been a challenging year due to the global impact of COVID-19 on our markets and business, our mission to make the world cleaner, safer and healthier is even more important than ever. We remain confident that Ecolab’s business is well-positioned for strong growth in the years ahead. This cash dividend increase reflects that confidence as well as our solid financial position, excellent cash flow and commitment to shareholder returns as we work to return toward our historic dividend cash payout rates going forward.”

Ecolab Inc. provides water, hygiene and energy technologies and services. The company's cleaning and sanitizing programs and products, and pest elimination services, support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors. Ecolab's products are also used in water treatment, pollution control, energy conservation, oil production and refining, primary metals manufacturing, papermaking, mining and other industrial processes. Ecolab was incorporated in 1924 and has paid cash dividends on its common stock since 1936.