Wal-Mart Stores (WMT) will raise its quarterly dividend to $0.51 per share, marking the 44th consecutive year of dividend increases.

The increased dividend will be paid on April 3, 2017 to shareholders of record on March 10, 2017. The next record dates in 2017 will be May 12, August 11, and December 8.

"We're proud of our track record of returning significant cash to shareholders and to be increasing our annual dividend for the 44th consecutive year," said Brett Biggs, executive vice president and chief financial officer at Wal-Mart Stores, Inc.

In fiscal year 2017, Walmart returned $14.5 billion to shareholders in the form of dividends and share repurchases. The current dividend yield for Wal-Mart is 2.9%.

Walmart Inc. is operates retail, wholesale and other units, as well as eCommerce websites, located throughout the U.S., Africa, Argentina, Brazil, Canada, Central America, Chile, China, India, Japan, Mexico and the United Kingdom. The company's operations comprise three reportable segments: Walmart U.S., Walmart International and Sam's Club. Although Walmart was incorporated in Delaware in October 1969, the businesses conducted by our founders began in 1945 when Sam M. Walton opened a franchise Ben Franklin variety store in Newport, Arkansas. The company has paid a dividend every year since 1973.