Sirius XM Holdings Inc. (SIRI) will raise its quarterly dividend by yet another ten percent to $0.014641 per share in 2020. This dividend increase by the radio company follows similar increases in each of the three previous years. Sirius XM has raised its dividend four consecutive years if this new dividend hike is included.

The next dividend will be paid on November 30, 2020 to stockholders of record at the close of business on November 6, 2020. A new annual rate of approximately 5.85 cents per share yields 1.0% at a stock price of $5.56.

In a press release dated October 6, the company also notes the dividend history: SiriusXM first initiated a regular quarterly dividend in November 2016 at $0.01 per share per quarter, and this marks the fourth year in a row the company has increased this dividend by 10%.

According to our calculations Sirius XM will now pay an estimated annual dividend of $256 million to its shareholders. Sirius stock price is down 22 percent year-to-date, following gains in each of the pas four years. In 2019 the stock price gained 25.2 percent, dividends excluded. The current market cap for SIRI is $24.1 billion.

Sirius XM Holdings Inc. transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its two satellite radio systems. The company also provides connected vehicles services, giving customers access to a suite of safety, security, and convenience services including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation. SiriusXM first initiated a regular quarterly dividend in November 2016 at $0.01 per share per quarter.