IHS Markit (INFO) will raise its quarterly dividend by 17.6 percent to 20 cents per share in 2021. This marks the first dividend hike announced by financial markets data provider since it started paying a quarterly dividend of $0.17 per share in the first quarter of 2020.

This increased dividend is payable on February 12, 2021 to common shareholders of record at the close of business on January 29, 2021. An indicated annual dividend rate of 80 cents per share yields 0.9% at a stock price of $85.51.

On October 17, 2019 the board of Directors of IHS Markit had approved the initiation of a quarterly cash dividend beginning in the first quarter of fiscal 2020. This first ever dividend hike results in a new annual dividend payment of approximately $337 million to shareholders by IHS Markit.

IHS Markit Ltd. delivers data, insight, and software to major industries, financial markets and governments worldwide. The company is organised into four industry-focused segments: Resources, Transportation, Consolidated Markets & Solutions and Financial Services. The Financial Services segment includes the company's financial information, processing and solutions product offerings, as well as product offerings of the acquired company Ipreo. IHS was in business since 1959 and became a public company in 2005. Markit was founded in 2003 and went public in 2014 with the IHS merger being completed in 2016.