Motorola Solutions to raise dividend by 11%, to lift the dividend yield above the S&P 500

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Motorola Solutions Inc. said Thursday it will raise its quarterly dividend by 11%, to 71 cents a share from 64 cents a share. The new dividend will be payable on Jan. 15 to shareholders of record on Deb. 15. The communications, command-center software and video security company's stock rose 0.6% in afternoon trading. At current prices, the hike in the annual dividend rate would raise the implied dividend yield to 1.69% from 1.52%, which lifts it above the implied yield for the S&P 500 of 1.60%. The yield on the SPDR Technology Select Sector ETF of which Motorola Solution is a component, is 0.98%. Motorola Solutions shares have gained 4.6% year to date, while the technology ETF has run up 32.3% and the S&P 500 has advanced 10.7%.