Hyster-Yale Materials Handling (HY) will raise its quarterly dividend by 1.6 percent to 32.25 cents per share in 2021. This follows a dividend hike of 2.4 percent to $0.3175 per share in 2019. Last year the dividend was not raised by HY.

The next dividend is payable on June 15, 2021 to stockholders of record at the close of business on June 1, 2021. A new annual rate of $1.29 per share yields 1.6% at a stock price of $79.40.

Hyster-Yale Materials Handling, Inc. is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships. The company offers a range of solutions, including attachments and hydrogen fuel cell power products (through its Nuvera division), telematics, automation and fleet management services, as well as an array of other power options for its lift trucks. Hyster-Yale has been paying a dividend to shareholders every year since at least 2012