American Express (AXP) will raise its quarterly dividend by 10.3 percent to $0.32 per share in the fourth quarter of 2016. Last year AXP also hiked its dividend by 3 cents to 29 cents quarterly per share.

The next dividend is payable on November 10, 2016 to shareholders of record on October 7, 2016. The ex-date for the increased dividend of 32 cents per share is October 5, 2016. American Express has increased its dividend every year since 2012.

American Express is an integrated payments company. The company's principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its operating segments are: Global Consumer Services Group (GCSG), Global Commercial Services (GCS) and Global Merchant & Network Services (GNMS). American Express began doing business on March 28, 1850 and was first listed on the New York Stock Exchange on May 18, 1977. The company has increased dividends every year since 2012.