Monolithic Power Systems (MPWR) will raise its quarterly dividend by 20.0 percent to 60 cents per share in 2021. This follows a dividend hike of 25.0 percent to $0.50 per share in the first quarter of 2020. The power solutions company has now raised its annual dividend for 4 straight calendar years.

The next dividend of $0.50 per share will be paid on April 15, 2021 to all stockholders of record as of the close of business on March 31, 2021.  A new annualized dividend of $2.40 per share yields 0.7% at the current stock price of $367.60.

Monolithic Power Systems will now pay its shareholders a total dividend of $108 million annually according to calculations by dividendhike.com. In the last seven years MPS has announced a double digit dividend hike five times, including in the last four years.

Monolithic Power Systems, Inc. (MPS) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS' mission is to reduce total energy consumption in its customers' systems with green, practical, compact solutions. The company has paid a dividend to shareholders every year since 2014.