Southern Copper Corporation (SCCO) will increase its quarterly dividend by another 16.7 percent to 70 cents per share in 2021. This comes after a 20 percent hike to 60 cents per share in the first quarter of 2021. In Q4 of 2020 the copper producer hiked its dividend by another 25.0 percent to 50 cents per share, after it had doubled its quarterly dividend to 40 cents per share earlier in 2020. However, this came after a cut of 50.0 percent in the quarterly dividend to $0.20 per share announced in April 2020. The copper producer also reduced its dividend in 2015, 2013 and 2012.

The next dividend will be paid on May 25, 2021 to shareholders of record on May 11, 2021. A new annual dividend rate of $2.80 per share yields 3.9% based at a stock price of $71.64. Southern Copper Corporation will now pay an estimated $2.2 billion annually in dividends to its shareholders. 

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. The company has operations in Peru and Mexico. Southern Copper Corporation has paid a dividend to shareholders every year since at least 1996.