UPDATE 1-Strayer Q3 tops estimates; dividend raised

* Q3 shr $1.21 vs. est. $1.15

* Raises annual dividend to $3.00

* Sees FY 2009 shr $7.56-$7.58

* Sees 2010 shr $9.30-$9.50

Oct 29 (Reuters) - Strayer Education Inc (STRA.O) posted better-than-expected quarterly profits, helped by a 22 percent rise in total fall student enrollment, and it also increased its annual dividend.

The company posted third-quarter earnings of $16.7 million, or $1.21 a share, compared with $11.8 million, or 83 cents a share, a year earlier.

Revenue rose 31 percent to $114.4 million.

Analysts on average were expecting earnings of $1.15 a share on revenue of $113.5 million, according to Thomson Reuters I/B/E/S.

The company, which increased its annual dividend to $3.00 from $2.00, forecast 2009 profits to range between $7.56 and $7.58 a share.

Strayer also said it expects 2010 earnings of $9.30 to $9.50 a share on projected revenue growth of 24 percent to 25 percent.

The outlook includes after tax stock-based compensation expense of 52 cents share, the company said in a statement.

Shares of the company closed at $211.84 Wednesday on Nasdaq. (Reporting by Amulya Nagaraj in Bangalore; Editing by Anil D'Silva)