Resmed (RMD) will raise its quarterly dividend by 7.7 percent to 42 cents per share in 2021. Last year RMD did not announce a dividend hike with a 5.4 percent increase to $0.39 per share in 2019 being the previous increase. The medical devices maker has now raised its quarterly dividend 9 consecutive years.

The next dividend will be payable on September 23, 2021 to shareholders of record on August 19, 2021. The new annual dividend of $1.68 per share yields 0.6% at a stock price of $274.69.

ResMed Inc. is a holding company. The company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep apnea, chronic obstructive pulmonary disease (COPD) and other chronic diseases.