Allegion (ALLE) will raise its quartery dividend by 12.5 percent to 36 cents per share in 2021. This follows a dividend hike of 18.5 percent to $0.32 per share in the first quarter of 2020. The security products company has now raised its dividend for 7 consecutive years. The next dividend is payable on March 31, 2021, to shareholders of record on March 17, 2021. A new annual dividend rate of $1.44 per share yields 1.3% at a stock price of $114. From today's press release: “Allegion remains committed to driving shareholder value, and our board supports our plan to return cash to shareholders with an annual rate of dividend increase above our annual earnings growth rate,” said David D. Petratis, Allegion chairman, president and CEO. “This latest dividend increase conveys our confidence in the company’s efficient cash flow generation. It also demonstrates the continued execution of a flexible and balanced capital allocation strategy.” Allegion PLC provides mechanical and electronic s...