Microchip Technology (MCHP) will raise its quarterly dividend to $0.3605 per share.

The dividend is payable on December 5, 2016 to stockholders of record on November 21, 2016.

Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 50 times since its inception.

"Microchip achieved outstanding financial results in the September 2016 quarter and our cash generation excluding our dividend payments was a record," said Steve Sanghi, Chief Executive Officer and Chairman of the Board.  "Our Board of Directors is pleased to declare an increase in our quarterly dividend to a record 36.05 cents per share, which continues to reflect our ongoing commitment to returning value to our stockholders."

The provider of microcontroller, mixed-signal, analog and Flash-IP solutions has a 2.4% dividend yield based on the current stock price of $62.23.

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The company, headquartered in Chandler, Arizona, provides microcontroller, mixed-signal, analog and Flash-IP solutions.