Danaher Corporation (DHR) will raise its quarterly dividend by 16.7 percent to 21 cents per share in 2021. This follows a dividend hike of 5.9 percent to $0.18 per share in 2020 by the conglomerate.

The increased dividend is payable on April 30, 2021 to holders of record on March 26, 2021. A new annualized dividend rate of 84 cents per share yields 0.3% at a stock price of $258.

Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. Danaher’s business consists of four segments: Life Sciences; Diagnostics; Dental; and Environmental & Applied Solutions. Danaher Corporation, originally DMG, Inc., was organized in 1969 as a Massachusetts real estate investment trust. In 1978 it was reorganized as a Florida corporation under the name Diversified Mortgage Investors, Inc. which in a second reorganization in 1980 became a subsidiary of a newly created holding company named DMG, Inc. DMG, Inc. adopted the name Danaher in 1984 and was reincorporated as a Delaware corporation in 1986.