The Fastenal Company (FAST) will raise its quarterly dividend by 12 percent to $0.28 per share in 2015. In 2013 the dividend was raised twice, while Fastenal maintained its quarterly dividend at $0.25 in 2014.

Fastenal has an indicated dividend yield of 2.5% based on Wednesday's closing price of $44.93 per share. The company began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011. 

Fastenal is engaged in wholesale distribution of industrial and construction supplies, including threaded fasteners and miscellaneous supplies, tools, metal cutting tool blades and abrasives, fluid transfer components and accessories for hydraulic and pneumatic power, material handling, storage and packaging products, janitorial, chemical and paint products, electrical supplies, welding supplies, safety supplies, metals, alloys and materials and office supplies. Fastenal Company began as a partnership in 1967, and was incorporated under the laws of Minnesota in 1968. Fastenal began paying annual dividends in 1991, semi-annual dividends in 2003, and then expanded to quarterly dividends in 2011.