Apache (APA) will raise its quarterly dividend by 17.6 percent to $0.20 per share in 2013. This follows a 13.3 percent dividend hike by the oil and gas company last year.

Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname. Apache Oil Corporation was founded in 1954 in Minneapolis, Minnesota, by Truman Anderson, Raymond Plank and Charles Arnao working alongside six employees and backed by 41 shareholders who invested $250,000 in initial capital. The company’s name was changed to Apache Corporation in 1960. Apache has paid a dividend every year since 1965.