Omnicom Group (OMC) will raise its quarterly dividend by 7.7 percent to 70 cent in 2021. This follows a dividend hike of 8.3 percent to $0.65 per share in the first quarter of 2019. This is the second dividend hike by the communications company since 2017.

The increased dividend is payable on April 8, 2021 to Omnicom Group common shareholders of record at the close of business on March 10, 2021. A new annualized rate of $2.80 per share yields 4.2% at the current stock price.

Omnicom Group is a global marketing and corporate communications company. The Company provides advertising, marketing and corporate communications services. Omnicom's branded networks and specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to clients worldwide.