Interpublic Group of Companies (IPG) will raise its quarterly dividend by 5.9 percent to 27 cents per share in 2021. This follows a dividend hike of 8.5 percent to $0.255 per share in the first quarter of 2020. This marks the 9th consecutive year of dividend increases by the advertising company and follows double digit dividend hikes in the past couple of years.

The next dividend is payable on March 15, 2021, to holders of record at the close of business on March 1, 2021.  A new annualized dividend rate of $1.08 per share yields 4.4% at a stock price of $24.63.

Interpublic Group of Companies will now pay shareholders an estimated $421 million in dividends annually. The average dividend growth rate in the last five years is 12.5 percent annually.

The Interpublic Group of Companies, Inc. is an advertising and marketing services company. Major global brands include Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton Worldwide, MAGNA, McCann, Momentum, MRM//McCann, MullenLowe Group, Octagon, R/GA, UM and Weber Shandwick. Other leading brands include Avrett Free Ginsberg, Campbell Ewald, Carmichael Lynch, Deutsch, Hill Holliday, ID Media and The Martin Agency. Interpublic Group of Companies has paid a dividend every year since 2011.