Booz Allen Hamilton Corp (BAH) will raise its quarterly dividend by 19.4 percent in 2021. This marks the 9th consecutive year of dividend increases and follows a 14.8 percent hike to $0.31 per share announced by the consulting and engineering services company in 2020.

The next dividend is payable on March 2, 2021, to stockholders of record on February 12, 2021. A new annual dividend rate of $1.48 per share yields 1.8% at a stock price of $83.55.

Booz Allen Hamilton Holding Corporation has now announced a double digit dividend hike in each of the last nine years with special dividends payments also being paid in the first years. The company will now pay an estimated annual dividend of $204 million to shareholders.

Booz Allen Hamilton Holding Corporation is a provider of management and technology, consulting and engineering services to the United States and international governments, corporations and not-for-profit organizations. The company was founded in 1914 by Edwin Booz, one of the pioneers of management consulting. In 1940, Booz Allen began serving the U.S. government by advising the Secretary of the Navy in preparation for World War II. The company has expanded beyond its management consulting foundation to develop deep expertise in the fields of analytics, digital solutions, engineering and cyber.