Maxim Integrated Products (MXIM) will raise its quarterly dividend by 16.7 percent to $0.42 per share in the first quarter of 2018. This follows a 9.1 percent dividend hike last year. This dividend hike marks the 17th consecutive year of dividend increases by the technology company.

The new dividend will be paid on March 15, 2018, to stockholders of record on March 1, 2018. The new dividend yield for MXIM is 2.8%.

Tunc Doluca, President and Chief Executive Officer, commented, "We are pleased with our performance in the December quarter. Compared to the same quarter last year, revenue growth was led by double-digit increases in Industrial and Automotive with continued solid company profitability." Mr. Doluca continued, "Looking forward, we expect another strong revenue quarter in our March quarter with significant growth in Automotive, Industrial and Consumer compared to the same quarter last year. Our profitability and revenue growth are enabling exceptionally strong earnings performance and cash flow, giving us confidence to increase our return of capital to shareholders."

Maxim Integrated Products, Inc. develops innovative analog and mixed-signal products and technologies to make systems smaller and smarter, with enhanced security and increased energy efficiency. The company's products are used by customers in the automotive, industrial, healthcare, mobile consumer, and cloud data center markets. Maxim Integrated Products has paid a dividend every year since 2002.