Expeditors International of Washington (EXPD) will raise its semi-annual dividend by 11.5 percent to 58 cents per share in 2021. This comes after a dividend hike of 4.0 percent to $0.52 per share announced in 2020. This marks the 28th consecutive year of dividend increases by the logistics company.

The next dividend is payable on June 15, 2021 to shareholders of record as of June 1, 2021. The new annualized dividend rate of $1.16 per share yields 1.0% at a stock price of $113.54. Last year Expeditors International was added to the S&P Dividend Aristocrats Index. EXPE will pay shareholders an estimated $196 million in dividends annually if we include this new dividend hike just announced.

Expeditors International of Washington, Inc. is a global logistics company headquartered in Seattle, Washington. The company employs trained professionals in district offices and branch locations on six continents. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing and distribution and customized logistics solutions. As a service-based company, EXPD doesn’t own aircraft, ships, or trucks. The company was founded in 1979. A dividend has been paid to shareholders every year since 1993.