Tetra Tech (TTEK) will raise its quarterly dividend by 17.6 percent to 20 cents per share in 2021. This comes after a dividend hike of 13.3 percent to $0.17 per share announced in 2020. This marks the 7th consecutive year of dividend increases by the services company. 

The increased dividend is payable on May 28, 2021 to stockholders of record as of May 12, 2021. A new annualized rate of 80 cents per share yields 0.63% at a stock price of $124. Tetra Tech has raised its dividend by an average of 17.3 percent annually in the last five years. The company will pay shareholders an estimated $43 million in dividends annually.

Tetra Tech, Inc. is a provider of consulting, engineering, program management, construction management, and technical services. The company supports global commercial and government clients focused on water, environment, infrastructure, resource management, energy, and international development. Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. Tetra Tech's Initial Public Offering was completed on December 17, 1991. The company has paid a dividend every year since 2014.