Domino's Pizza (DPZ) will raise its quarterly dividend by 20.5 percent to $0.94 per share in 2021. This follows a dividend hike of 20.0 percent to $0.78 per share in 2020. The pizza company has now hiked its dividend for 8 consecutive years.
The next dividend will be paid to shareholders of record as of March 30, 2021 to be paid on March 30, 2021. The new annual dividend yields 1.1% at the current stock price. A new annual dividend rate of $3.76 per share yields 1.1% at a stock price of $339.
Domino's Pizza is the largest pizza company in the world based on global retail sales. Founded in 1960, the company's roots are in convenient pizza delivery, while a significant amount of its sales also come from carryout customers. The company's focus is on serving neighborhoods locally through its large global network of franchise owners and U.S. company-owned stores. Domino’s generates revenues and earnings by charging royalties and fees to its franchisees. Royalties are ongoingpercent-of-sales fees for use of the Domino’s brand marks. The company also generates revenues and earnings by selling food, equipment and supplies to franchisees through its supply chain operations, primarily in the U.S. and Canada, and by operating a number of its own stores. Domino's has paid a dividend every year since a regular quarterly dividend was reinstated in 2013. In 2007 the dividend was suspended by the company with special dividends paid in 2007 and 2012.