Graco Inc. (GGG) will raise its quarterly dividend by 9.1 percent to $0.36 per share. The increased dividend will be payable on February 1, 2017, to shareholders of record at the close of business on January 17, 2017.

Graco supplies technology and expertise for the management of fluids in both industrial and commercial applications. The new annual dividend of $1.44 per share translates into an estimated yield of 1.7% at a stock price of $84.34.

Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. The company designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. Minneapolis-based Graco serves customers around the world in the manufacturing, processing, and construction and maintenance industries. Graco was originally founded by Russell and Leil Gray as Gray Company in 1926 and has paid a dividend every year since at least 1991.