Dividend Aristocrat Roper Technologies raises dividend 9.8% in 2020

Roper Technologies 2020 dividend increase
Dividend Aristocrat Roper Technologies (ticker ROP) will increase its quarterly dividend by 9.8 percent to $0.5625 per share in 2020. Last year the technology company announced a dividend increase of almost 11 percent to 51.25 cents per share quarterly.

This marks the 28th consecutive year of annual dividend increases by Roper.

The next dividend is payable on January 22, 2021 to stockholders of record as of January 8, 2021. At a stock price of $396 Roper yields about 0.6%.

In the company's press release we read: This represents an increase of 10% over the dividend paid in each quarter of 2020, or an expected $0.20 increase on an annual basis ($0.05 on a quarterly basis).  This is the twenty-eighth consecutive year in which Roper has increased its dividend. 

According to calculations from dividendtrackrecords.com Roper will now pay an estimated $236 million in dividends to its shareholders annually. This new dividend increase announced last week is the smallest on record since we started tracking data since 2007. However the dividend growth rate is in the double digits with 13.4 percent annually in the last five years, even if we include the smaller 2020 and 2019 hikes.

Roper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Roper operates through four segments: Application software, Network Software & Systems, Measurement & Analytical solutions and Process Technologies. The company had paid a dividend every year since at least 1992.

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