Lincoln National Corporation (LNC) will raise its quarterly dividend by sixteen percent to $0.29 per share in Q1 of 2017.

The increased dividend on the common stock will be payable on February 1, 2017, to shareholders of record at the close of business on January 10, 2017. It's the sixth consecutive year of dividend increases for insurance and financial planning company. Lincoln National has a 2.4% dividend yield at the current stock price of $48.46.

Lincoln National Corporation is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies. Through its business segments, the company sells wealth protection, accumulation and retirement income products and solutions. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. LNC was organized under the laws of the state of Indiana in 1968.