Dollar General Corporation (DG) will raise its quarterly dividend by 16.7 percent to $0.42 per share in 2021. This marks the 6th consecutive year of dividend increases by the discount retailer with double digit dividend hikes announced in each of the last four years.

The next dividend is payable on or before April 20, 2021 to shareholders of record on April 6, 2021. A new annualized rate of $1.68 per share yields 0.85% based on a stock price of $197. According to calculations by dividendhike.com Dollar General will now pay shareholders $412 million in dividends annually.

Dollar General Corporation is a discount retailer. The company offers a broad selection of merchandise, including consumables, seasonal items, home products and apparel. Its merchandise includes branded and own private brand products at everyday lowprices (typically $10 or less) in its convenient small-box locations, with the greatest concentration of stores in the southern, southwestern, midwestern and eastern United States. J.L. Turner founded the company in 1939 as J.L. Turner and Son, Wholesale. DG was incorporated as a Kentucky corporation under the name J.L. Turner & Son, Inc. in 1955, when the first Dollar General store was opened. In 1968 the company name was changed to Dollar General Corporation.  In November 2009 Dollar General again became publicly traded.