SEI Investments (SEIC) will raise its semi-annual dividend by 5.7 percent to 37 cents per share in 2020. Last year the dividend was hiked by 6.1 percent to $0.35 per share in the fourth quarter of 2019. It's the 30th consective year of dividend increases by the investment management company.

The next cash dividend will be payable to shareholders of record on December 21, 2020, with a payment date of January 7, 2021. A new annualized dividend rate of 74 cents per share yields 1.3% at a stock price of $56.

SEI Investments pays an estimated $108 million in dividends to its shareholders annually. Dividend growth has been slowing a bit in the last three years with the last double digit increase dating back to 2018, when SEIC announced a 10 percent dividend hike.

SEI Investments Company provides investment processing, investment management and investment operations solutions. The company’s clients include corporations, financial institutions, financial advisors, and ultra-high-net-worth families. The company's business platforms include: Investment processing outsourcing platforms for providers of institutional and private-client wealth management services, including banks, trust companies, independent wealth advisers and other financial services firms; Investment management platforms for institutional investors, including retirement plan sponsors, not-for-profit organizations and affluent individual investors; and Investment operations outsourcing platforms for investment management firms, banks, family offices and investment companies that sponsor and distribute mutual funds, hedge funds and alternative investments. SEI began doing business in 1968 and became a public company in 1981. The company serves clients in the United States, Canada, the United Kingdom, continental Europe, South Africa and East Asia.