Equitable Holdings (EQH) will raise its quarterly dividend by 5.9 percent ot 18 cents per share in 2021. This follows a dividend hike of 13.3 percent last year by the company formerly known as AXA Equitable.

The next dividend will be payable June 7, 2021 to shareholders of record at the close of business on May 31, 2021. A new annual rate of 72 cents per share yields 2.2% at a stock price of $33.

Equitable Holdings, Inc., formerly AXA Equitable Holdings, Inc., is a holding company that provides financial services. EQH is comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.