Domino's Pizza (DPZ) will raise its quarterly dividend by 17 percent to $1.10 per share in 2022. This comes on the back of a 20.5 percent dividend hike to $0.94 per share in 2021. The pizza company has now hiked its dividend for 9 consecutive years.

The next DPZ dividend will be paid to shareholders on March 30, 2022. The ex-dividend date is March 14. A new annual dividend rate of $4.40 per share yields 1.0% at a stock price of $423.

Domino's Pizza is the largest pizza company in the world based on global retail sales. Founded in 1960, the company's roots are in convenient pizza delivery, while a significant amount of its sales also come from carryout customers. The company's focus is on serving neighborhoods locally through its large global network of franchise owners and U.S. company-owned stores. Domino’s generates revenues and earnings by charging royalties and fees to its franchisees. Royalties are ongoingpercent-of-sales fees for use of the Domino’s brand marks. The company also generates revenues and earnings by selling food, equipment and supplies to franchisees through its supply chain operations, primarily in the U.S. and Canada, and by operating a number of its own stores. Domino's has paid a dividend every year since a regular quarterly dividend was reinstated in 2013. In 2007 the dividend was suspended by the company with special dividends paid in 2007 and 2012.