Reliance Steel & Aluminum Co. (RS) will raise its quarterly dividend by 5.9 percent to 45 cents per share in 2017. This follows a 2.5 cent per share dividend hike from 40 cents to 42.5 cents per share last year.

Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of locations in the United States and multiple countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of metal products to customers in a broad range of industries. Reliance Steel & Aluminum became a public company in 1994 and has paid a dividend ever year since 1960.