UnitedHealth Group (UNH) will raise its quarterly dividend by 16 percent to $1.45 per share in 2021, following a dividend hike of 15.7 percent to $1.25 per share announced in 2020. Last year the health and well-being company hiked its dividend by 20.0 percent, marking the 10th consecutive year of double digit dividend increases.

The next dividend will be paid June 29, 2021, to common stock shareholders of record as of the close of business June 21, 2021. A new annualized dividend rate of $5.80 per share yields 1.4% at a stock price of $401.

UnitedHealth Group has been increasing the dividend for 12 years in a row with at least a double-digit increase in dividends annually. UnitedHealth Group now pays over $5.5 billion in dividends annually. Average dividend growth over the past five years has been impressive at 18.3%, including today's dividend hike. In 2010, UnitedHealth's dividend went up by a whopping 1566.7%, followed by a dividend increase of at least 30% in 2011, 2012, 2013, 2014 and 2015.

UnitedHealth Group Incorporated is a health and well-being company. The company provides employers products and resources to plan and administer employee benefit programs. It conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum. Optum is a health services business serving the healthcare marketplace, including payers, care providers, employers, governments, life sciences companies and consumers. UnitedHealth started paying annual dividends in 1990, and switched to quarterly dividend payments in June 2010.