Global asset manageer Eaton Vance (EV) will raise its quarterly dividend by 5.7 percent to $0.28 per share in the fourth quarter of 2016.

The dividend is payable November 15, 2016 to shareholders of record on October 31, 2016. The increase marks the 36th consecutive fiscal year that EV has raised its regular quarterly dividend, which has grown at a compound annual rate of 18 percent over that 36 year period.

Based on Thursday's closing price of $37.26 per share the new dividend yield for Eaton Vance is 3%.

Eaton Vance Corp., whose history dates back to 1924, manages investment funds and provides investment management and advisory services to high-net-worth individuals and institutions globally. The company operates offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates manages assets for individuals and institutions through investment strategies and wealth management solutions. Eaton Vance affiliates include EVM, Parametric, Atlanta Capital, Hexavest and Calvert.