Harley-Davidson, Inc. (HOG) will hike its quarterly dividend by a whopping 650 percent to 15 cents per share. However the motorcycle maker cut its quarterly dividend by 94.7 percent to 2 cents per share in the second quarter of 2020 because of the COVID-19 pandemic. In Q1 of 2020 the motorcycle manufacturer had raised its quarterly dividend by 1.4 percent to $0.38 per share, marking the 10th consecutive year of dividend increases at the time.

Harley-Davidson, Inc.'s Board of Directors approved a first quarter 2021 dividend of $0.15 per share, payable March 19, 2021 to shareholders of record of the company's common stock as of March 2, 2021. A new annual dividend rate of 60 cents per share yields 1.8% at a stock price of $33.26. Harley-Davidson will now pay an estimated $92 million in dividends to shareholders annually, if of course the quarterly dividend will be maintained throughout the rest of 2021.

Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. The company manufactures and sells at wholesale cruiser and touring motorcycles. The Financial Services segment consists of HDFS, which provides wholesale and retail financing and insurance-related programs to the Harley-Davidson dealers and their retail customers. Harley-Davidson has been paying a dividend every year since 1993.