W. R. Grace & Co (GRA) will raise its quarterly dividend from $0.68 to $0.84 per share.

The increase will be effective starting with the first quarter dividend of $0.21 per common share, which was declared by the Board and is payable on March 23, 2017, to shareholders of record at the close of business on March 1, 2017.

"Grace is committed to growing our dividend for shareholders as part of our balanced capital allocation strategy," said Fred Festa, Grace's Chairman and Chief Executive Officer. "In addition to the meaningful increase in our dividend that the Board approved today, during 2016 we strategically deployed cash to complete $245 million in acquisitions, made $117 million in capital investments, and returned $231 million to shareholders through share repurchases and dividends. We remain confident in our ability to generate strong free cash flow and drive superior performance over the long term."

W.R. Grace & Co. Is a supplier of specialty chemicals and specialty materials. The company produces catalysts used in refining, petrochemical and other chemical manufacturing applications, specialty materials, coatings and sealants and related products used in coatings, consumer, industrial, pharmaceutical, and packaging applications and construction chemicals and building materials.