By Michael Dabaie

S&P Global said its board approved a 15% increase in the regular quarterly cash dividend on common stock.

The quarterly dividend will increase to 77 cents a share from 67 cents. The dividend is payable on March 10.

The new annualized dividend rate of $3.08 per share represents an average compound annual dividend growth rate of 10% since 1974, the company said.

"Increasing the dividend demonstrates our confidence and optimism in the continued strength of our cash flow generation and financial position," said Chief Executive Douglas Peterson.

The company said that in 2020 it returned $1.8 billion to shareholders through dividends and share repurchases.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

01-27-21 0941ET