Gentex (NASDAQ:GNTX) has declared its next quarterly dividend. The company will pay $0.14 per share of its common stock on April 19 to shareholders of record as of April 5. That represents an increase of 8%, or $0.01, over the previous disbursement of $0.13 the firm had handed out in each of the preceding four quarters.

Gentex tends to boost its dividend incrementally. The previous hike was also by $0.01, and the one prior to that was by $0.005.

The new dividend annualizes to $0.56 per share, yielding 2.9% at the company's current stock price of $19.58.

Fool contributor Eric Volkman has no position in Gentex. The Motley Fool owns shares of Gentex. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.