TE Connectivity (TEL) will raise its quarterly dividend by 4.2 percent to 50 cents per share in 2021. This follows a 4.3 percent hike to $0.48 per share in 2020 and marks the 11th consecutive year of dividend increases.

The next dividend is payable on June 4, 2021, to shareholders of record at the close of business on May 21, 2021. A new annual rate of $2.00 per share yields 1.5% at a stock price of $131.48.

TE Connectivity Ltd. is a technology and manufacturing company. Its connectivity and sensor solutions are used worldwide in transportation, industrial applications, medical technology, energy, data communications, and at home. TEL operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The company has paid a dividend to shareholders every year since 2007.