The Estée Lauder Companies (EL) will hike its dividend by 13.2 percent to 60 cents quarterly. Last year the dividend was suspended and later reinstated again with quarterly dividend of 48 cents per share.

The next quarterly dividend of $0.60 per share on the Company’s Class A and Class B Common Stock will be paid on December 15, 2021 to stockholders of record at the close of business on November 30, 2021. The new annual dividend rate of $2.40 per share yields 0.7% at a stock price of $348 for EL.

Because of the suspension in 2020 a dividend track record of 10 consecutive years with at least a double digit dividend hike announced by Estée Lauder ended. The company now pays an estimated $867 million in dividends annually to its shareholders.

The Estée Lauder Companies Inc. is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. The Company’s products are sold worldwide under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M•A•C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, By Kilian, BECCA and Too Faced. The company had paid dividends every year since it went public in November 1995.