NetApp Inc (NTAP) will raise its quarterly dividend by 4.2 percent to 50 cents per share in 2021. This comes after a dividend hike of 20.0 percent to $0.48 per share announced in 2019. Last year the technology company did not announce a dividend hike.

The next dividend will be paid on July 28, 2021, to shareholders of record as of the close of business on July 9, 2021. A new annual rate of $2.00 per share yields 2.5% at a stock price of $79.

NetApp, Inc. provides software, systems and services to manage and store customer data. Its data management and storage offerings help manage business productivity, performance and profitability, while providing investment protection and asset utilization.  NetApp offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models. Its data management and storage offerings help manage business productivity, performance and profitability, while providing investment protection and asset utilization. In 2013 NetApp initiated a quarterly dividend.