Microchip Technology (MCHP) will raise its quarterly dividend by 0.1 percent to $0.361 per share.

The dividend is payable on March 7, 2017 to stockholders of record on February 21, 2017. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 51 times since its inception.

"Microchip's financial results in the December 2016 quarter were outstanding with cash flow from operations being at record levels," said Steve Sanghi, Chief Executive Officer. "Our Board of Directors is pleased to declare an increase in our quarterly cash dividend to a record 36.1 cents per share, which continues to reflect our ongoing commitment to returning value to our stockholders."

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.