Intel Corp (INTC) will raise its quarterly dividend by 5.3 percent to $0.3475 per share in 2021. This follows a 4.8 percent dividend hike tto $0.33 per share announced in the first quarter of 2020. This marks the 7th consecutive year of annual dividend increases by the semiconductor company.

The next dividend will be payable on March 1, 2021, to shareholders of record on February 7, 2021. The new annual dividend of $1.39 per share yields 2.5% at a stock price of $56.66. 

Intel will now pay an estimated $5.7 billion in dividends to its shareholders annually. The average dividend growth rate in the last five years now is exactly 6.0 percent, with steady 5 percent dividend hikes on average in the last three years if we include this new 2021 dividend hike just announced.

Intel Corporation designs, manufactures, and sells computer components and related products. Intel’s products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory, graphic, network and communication, systems management software, conferencing, and digital imaging products. Intel was orginally incorporated in 1968 as NM Electronics Inc. by Robert Noyce and Gordon Moore and later that year changed its name to Intel Corporation. Intel went public October 13, 1971 and has been paying dividends since 1992.