Communications products maker Motorola Solutions (MSI) will increase its quarterly dividend by 11.3 percent to $0.79 per share in 2021. This follows a dividend hike of 10.9 percent to 71 cents per share by MSI in 2020. The year 2021 will mark the 10th consecutive year of dividend increases announced by MSI.

The increased MSI dividend will be payable in cash on January 14, 2022, to shareholders of record at the close of business on December 15, 2021. The new annualized dividend of $3.16 per share for Motorola Solutions yields 1.2 percent at a stock price of $255.

Motorola Solutions, Inc. is a provider of communication infrastructure, devices, accessories, software and services. The company makes communications products and services for public safety and government agencies (law enforcement, fire, emergency medical services, and national government security) as well as private entities including utilities, mining, energy, manufacturing, hospitality, retail, transportation and logistics.