FMC Corporation (FMC) will raise its quarterly dividend by 10.4 percent to 53 cents per share in 2021. This dividend hike follows an increase of 9.1 percent to 48 cents per share in 2020 by the agricultural chemicals company.

The next FMC dividend is payable on January 20, 2022, to shareholders of record as of the close of business on December 31, 2021. This is the fourth consecutive year FMC has increased its dividend. The company remains committed to growing the dividend at or above the rate of earnings growth moving forward. A new annualized dividend rate of $2.12 per share for FMC Corporation yields 2.0% at a stock price of $104.

FMC Corporation is an agricultural sciences company. FMC provides solutions to growers around the world with a portfolio of proprietary crop protection products and a robust pipeline fueled by innovative discovery and development capabilities in crop protection, plant health and professional pest and turf maintenance solutions. The company's insect control products include Rynaxypyr and Cyazypyr branded active ingredients; Authority, Boral, Centium, Command and Gamit branded herbicides; Talstar and Hero branded insecticides; and flutriafol-based fungicides. The FMC portfolio also includes biologicals such as Quartzo and Presence bionematicides. In October 2018, FMC conducted an initial public offering of its Lithium business by spinning off Livent Corporation.