Universal Display Corporation announced that its board of directors approved an increased first quarter cash dividend of $0.20 per share on the company's common stock, up from the previous quarter’s dividend of $0.15 per share. The dividend is payable on March 31, 2021 to shareholders of record on March 16, 2021. The dividend reflects their expected continued cash flow generation, and commitment to return capital to the company's shareholders. Future dividends will be subject to Board approval.