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This paper proposes a new hybrid cyclic delay diversity (HCDD) scheme for multiple input multiple output (MIMO) orthogonal frequency division multiplexing (OFDM) systems. Unlike the existing double space time transmit diversity (DSTTD) and stacked cyclic delay diversity (SCDD) schemes that are suitable for integer multiplexing rates, the proposed HCDD scheme can achieve arbitrary non-integer multiplexing rates. Our results demonstrate that the HCDD scheme can provide flexibility in selecting the required number of transmitting antennas and in adjusting diversity and multiplexing gains to match various users requirements. The advantages of the proposed HCDD, including the flexible rate assignment and less complex receivers, are presented in applications of scalable video broadcasting (SVB).