Ryder System (R) will raise its quarterly dividend by 3.6 percent to 58 cents per share in 2021. This follows a dividend hike of  3.7 percent to $0.56 per share announced in 2019. The logistics company has now raised its dividend for 17 straight calendar years.

The increased dividend will be paid on September 17, 2021, to shareholders of record on August 23, 2021. The new dividend for Ryder System is 3.3% and 2021 will mark the 17th consecutive year of dividend increases. Ryder now pays an estimated $125 million in dividends to shareholders annually.

Ryder System, Inc. is a commercial fleet management, dedicated transportation, and supply chain solutions company. The company's offerings range from full-service leasing, commercial rental and maintenance of vehicles to integrated services to customers principally in the United States, Canada, Asia and the United Kingdom. The company has paid a dividend every year since 1976.