By Tess Stynes

Motorola Solutions Inc. (MSI) said its board raised the communication equipment and services company's quarterly dividend by 20%.

The quarterly payout to shareholders was lifted to 41 cents a share, an increase of seven cents a share, to yield 2.3%. The increased dividend its payable to shareholders of record as of Dec. 15.

The Chicago company is what remains of Motorola Inc., the wireless communications pioneer that has been dismantled over recent years. Motorola Solutions currently focuses on its smart public safety business, which provides communications services to police officers, among others.

The company recently reported that its third-quarter profit dropped as sales growth in North America wasn't enough to offset negative currency impacts. However, excluding one-time items, the company's earnings topped Wall Street expectations.

 Write to Tess Stynes at tess.stynes@wsj.com

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(END) Dow Jones Newswires

November 17, 2015 22:12 ET (03:12 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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