diff --git a/docs/devel/clocks.rst b/docs/devel/clocks.rst
index 956bd147ea..675fbeb6ab 100644
--- a/docs/devel/clocks.rst
+++ b/docs/devel/clocks.rst
@@ -260,6 +260,29 @@ clocks get the new clock period value: *Clock 2*, *Clock 3* and *Clock 4*.
 It is not possible to disconnect a clock or to change the clock connection
 after it is connected.
 
+Clock multiplier and divider settings
+-------------------------------------
+
+By default, when clocks are connected together, the child
+clocks run with the same period as their source (parent) clock.
+The Clock API supports a built-in period multiplier/divider
+mechanism so you can configure a clock to make its children
+run at a different period from its own. If you call the
+``clock_set_mul_div()`` function you can specify the clock's
+multiplier and divider values. The children of that clock
+will all run with a period of ``parent_period * multiplier / divider``.
+For instance, if the clock has a frequency of 8MHz and you set its
+multiplier to 2 and its divider to 3, the child clocks will run
+at 12MHz.
+
+You can change the multiplier and divider of a clock at runtime,
+so you can use this to model clock controller devices which
+have guest-programmable frequency multipliers or dividers.
+
+Note that ``clock_set_mul_div()`` does not automatically call
+``clock_propagate()``. If you make a runtime change to the
+multiplier or divider you must call clock_propagate() yourself.
+
 Unconnected input clocks
 ------------------------
 
diff --git a/hw/core/clock-vmstate.c b/hw/core/clock-vmstate.c
index 260b13fc2c..9d9174ffbd 100644
--- a/hw/core/clock-vmstate.c
+++ b/hw/core/clock-vmstate.c
@@ -14,12 +14,50 @@
 #include "migration/vmstate.h"
 #include "hw/clock.h"
 
+static bool muldiv_needed(void *opaque)
+{
+    Clock *clk = opaque;
+
+    return clk->multiplier != 1 || clk->divider != 1;
+}
+
+static int clock_pre_load(void *opaque)
+{
+    Clock *clk = opaque;
+    /*
+     * The initial out-of-reset settings of the Clock might have been
+     * configured by the device to be different from what we set
+     * in clock_initfn(), so we must here set the default values to
+     * be used if they are not in the inbound migration state.
+     */
+    clk->multiplier = 1;
+    clk->divider = 1;
+
+    return 0;
+}
+
+const VMStateDescription vmstate_muldiv = {
+    .name = "clock/muldiv",
+    .version_id = 1,
+    .minimum_version_id = 1,
+    .needed = muldiv_needed,
+    .fields = (VMStateField[]) {
+        VMSTATE_UINT32(multiplier, Clock),
+        VMSTATE_UINT32(divider, Clock),
+    },
+};
+
 const VMStateDescription vmstate_clock = {
     .name = "clock",
     .version_id = 0,
     .minimum_version_id = 0,
+    .pre_load = clock_pre_load,
     .fields = (VMStateField[]) {
         VMSTATE_UINT64(period, Clock),
         VMSTATE_END_OF_LIST()
-    }
+    },
+    .subsections = (const VMStateDescription*[]) {
+        &vmstate_muldiv,
+        NULL
+    },
 };
diff --git a/hw/core/clock.c b/hw/core/clock.c
index fc5a99683f..916875e07a 100644
--- a/hw/core/clock.c
+++ b/hw/core/clock.c
@@ -64,6 +64,15 @@ bool clock_set(Clock *clk, uint64_t period)
     return true;
 }
 
+static uint64_t clock_get_child_period(Clock *clk)
+{
+    /*
+     * Return the period to be used for child clocks, which is the parent
+     * clock period adjusted for for multiplier and divider effects.
+     */
+    return muldiv64(clk->period, clk->multiplier, clk->divider);
+}
+
 static void clock_call_callback(Clock *clk, ClockEvent event)
 {
     /*
@@ -78,15 +87,16 @@ static void clock_call_callback(Clock *clk, ClockEvent event)
 static void clock_propagate_period(Clock *clk, bool call_callbacks)
 {
     Clock *child;
+    uint64_t child_period = clock_get_child_period(clk);
 
     QLIST_FOREACH(child, &clk->children, sibling) {
-        if (child->period != clk->period) {
+        if (child->period != child_period) {
             if (call_callbacks) {
                 clock_call_callback(child, ClockPreUpdate);
             }
-            child->period = clk->period;
+            child->period = child_period;
             trace_clock_update(CLOCK_PATH(child), CLOCK_PATH(clk),
-                               CLOCK_PERIOD_TO_HZ(clk->period),
+                               CLOCK_PERIOD_TO_HZ(child->period),
                                call_callbacks);
             if (call_callbacks) {
                 clock_call_callback(child, ClockUpdate);
@@ -110,7 +120,7 @@ void clock_set_source(Clock *clk, Clock *src)
 
     trace_clock_set_source(CLOCK_PATH(clk), CLOCK_PATH(src));
 
-    clk->period = src->period;
+    clk->period = clock_get_child_period(src);
     QLIST_INSERT_HEAD(&src->children, clk, sibling);
     clk->source = src;
     clock_propagate_period(clk, false);
@@ -133,10 +143,23 @@ char *clock_display_freq(Clock *clk)
     return freq_to_str(clock_get_hz(clk));
 }
 
+void clock_set_mul_div(Clock *clk, uint32_t multiplier, uint32_t divider)
+{
+    assert(divider != 0);
+
+    trace_clock_set_mul_div(CLOCK_PATH(clk), clk->multiplier, multiplier,
+                            clk->divider, divider);
+    clk->multiplier = multiplier;
+    clk->divider = divider;
+}
+
 static void clock_initfn(Object *obj)
 {
     Clock *clk = CLOCK(obj);
 
+    clk->multiplier = 1;
+    clk->divider = 1;
+
     QLIST_INIT(&clk->children);
 }
 
diff --git a/hw/core/trace-events b/hw/core/trace-events
index 360ddeb2c8..9b3ecce3b2 100644
--- a/hw/core/trace-events
+++ b/hw/core/trace-events
@@ -34,3 +34,4 @@ clock_disconnect(const char *clk) "'%s'"
 clock_set(const char *clk, uint64_t old, uint64_t new) "'%s', %"PRIu64"Hz->%"PRIu64"Hz"
 clock_propagate(const char *clk) "'%s'"
 clock_update(const char *clk, const char *src, uint64_t hz, int cb) "'%s', src='%s', val=%"PRIu64"Hz cb=%d"
+clock_set_mul_div(const char *clk, uint32_t oldmul, uint32_t mul, uint32_t olddiv, uint32_t div) "'%s', mul: %u -> %u, div: %u -> %u"
diff --git a/include/hw/clock.h b/include/hw/clock.h
index a7187eab95..11f67fb970 100644
--- a/include/hw/clock.h
+++ b/include/hw/clock.h
@@ -81,6 +81,10 @@ struct Clock {
     void *callback_opaque;
     unsigned int callback_events;
 
+    /* Ratio of the parent clock to run the child clocks at */
+    uint32_t multiplier;
+    uint32_t divider;
+
     /* Clocks are organized in a clock tree */
     Clock *source;
     QLIST_HEAD(, Clock) children;
@@ -350,4 +354,29 @@ static inline bool clock_is_enabled(const Clock *clk)
  */
 char *clock_display_freq(Clock *clk);
 
+/**
+ * clock_set_mul_div: set multiplier/divider for child clocks
+ * @clk: clock
+ * @multiplier: multiplier value
+ * @divider: divider value
+ *
+ * By default, a Clock's children will all run with the same period
+ * as their parent. This function allows you to adjust the multiplier
+ * and divider used to derive the child clock frequency.
+ * For example, setting a multiplier of 2 and a divider of 3
+ * will run child clocks with a period 2/3 of the parent clock,
+ * so if the parent clock is an 8MHz clock the children will
+ * be 12MHz.
+ *
+ * Setting the multiplier to 0 will stop the child clocks.
+ * Setting the divider to 0 is a programming error (diagnosed with
+ * an assertion failure).
+ * Setting a multiplier value that results in the child period
+ * overflowing is not diagnosed.
+ *
+ * Note that this function does not call clock_propagate(); the
+ * caller should do that if necessary.
+ */
+void clock_set_mul_div(Clock *clk, uint32_t multiplier, uint32_t divider);
+
 #endif /* QEMU_HW_CLOCK_H */