Scotts Miracle-Gro Co (SMG) will raise its quarterly dividend by 6.5 percent to 66 cents per share in 2021. This comes after a dividend hike of 6.9 percent to 62 cents per share in 2020. Also a $5.00 per share special dividend was paid to shareholders by SMG in 2020. The maker of branded consumer lawn and garden products has now boosted its dividend 12 straight years.

The fourth quarter dividend is payable on Friday, September 10, 2021, to shareholders of record as of Friday, August 27, 2021. A new regular annual dividend rate of $2.64 per share yields 1.5% at a stock price of $177. 

The Scotts Miracle-Gro Company (SMG) is a manufacturer and marketer of branded consumer lawn and garden products in North America. Its key consumer lawn and garden brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote1 gardening and landscape products; and Ortho, Roundup 2, Home Defense and Tomcat branded insect control,weed control and rodent control products. SMG is the exclusive agent of the Monsanto Company, a subsidiary of Bayer AG since June 2018, for the marketing and distribution of certain of Monsanto’s consumer Roundup branded products within the United States and certain other specified countries. Through its Hawthorne segment, SMG is a manufacturer, marketer and distributor of nutrients, growing media, advanced indoor garden, lighting and ventilation systems and accessories for hydroponic gardening with brands including General Hydroponics, Gavita, Agrolux and AeroGarden. The company's three reportable segments are: U.S. Consumer, Hawthorne and Other. Scotts Miracle-Gro traces its heritage to a company founded by O.M. Scott in Marysville, Ohio in 1868.