Roper Technologies, Inc. ROP, on Nov 12, announced that it is rewarding shareholders with hike in the quarterly dividend rate. This marks its 28th consecutive year of dividend rate increase.We believe that such shareholder-friendly policies of the company reflect a strong cash position.Inside the HeadlinesAs revealed, Roper’s board of directors approved a 10% or 5 cents per share hike in the quarterly dividend rate, which now moved from 51.25 cents to 56.25 cents. On an annualized basis, the dividend increased to $2.25 from $2.05 per share.Roper will pay out the revised amount on Jan 22, 2021, to shareholders on record as of Jan 8.Sound Shareholder-Friendly PoliciesRoper firmly believes in rewarding shareholders handsomely through dividend payments. In the last three years (2017-2019), the company’s cash dividend paid out increased from $1.40 per share in 2017 to $1.85 in 2019. In November 2019, it had raised the quarterly dividend rate by 11%.Further, the company paid out a dividend of $160 million in cash to its shareholders in the first nine months of 2020.We believe that impressive financial performance in the quarters ahead is likely to enable it to continue rewarding its shareholders handsomely.Earnings Projections and Price Performance of RoperRoper, with approximately $41 billion market capitalization, currently carries a Zacks Rank #3 (Hold).For 2020, the company anticipates adjusted earnings per share of $12.55-$12.65, higher than $11.90-$12.40 stated earlier. Also, it predicts earnings of $3.39-$3.49 per share for the fourth quarter.In the past 30 days, the Zacks Consensus Estimate for earnings has been increased 1% to $12.65 for 2020 and 0.2% to $14.43 for 2021. Also, earnings estimates for the fourth quarter of 2020 have increased 1.7% to 3.49 per share.In the past six months, the stock has gained 9.3% compared with the industry’s increase of 42.3%. Stocks to ConsiderSome better-ranked stocks from the same space are Altra Industrial Motion Corp. AIMC, Applied Industrial Technologies, Inc. AIT and Graco Inc. GGG. While Altra Industrial currently sports a Zacks Rank #1 (Strong Buy), Applied Industrial and Graco carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Altra Industrial delivered a positive earnings surprise of 50.07%, on average, in the trailing four quarters.Applied Industrial delivered a positive earnings surprise of 14.68%, on average, in the trailing four quarters.Graco delivered a positive earnings surprise of 21.74%, on average, in the trailing four quarters.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot stocks we're targeting >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Graco Inc. (GGG): Free Stock Analysis Report Roper Technologies, Inc. (ROP): Free Stock Analysis Report Altra Industrial Motion Corp. (AIMC): Free Stock Analysis Report To read this article on Zacks.com click here.