Papa John’s International (PZZA) will raise its quarterly dividend by 55.6 percent to $0.35 per share in 2021. This is the pizza company's first dividend hike announced since 2017. 

The increases dividend will be payable August 27, 2021, to shareholders of record at the close of business on August 16, 2021. A new annual dividend rate of $1.40 per share for PZZA yields 1.2% at a stock price of $120. The next ex-dividend date is August 13.

Papa John's International, Inc. (Papa John's) operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John's. The restaurants offer pizza along with side items, including breadsticks, cheesesticks, chicken poppers and wings, dessert items and canned or bottled beverages.