Exelon Corporation (EXC) will raise its quarterly dividend by 5.3 percent to $0.345 per share in the first quarter of 2018. In 2017 the dividend was hiked by a total of 3 percent.

The dividend is payable on March 9, 2018, to shareholders of record of Exelon as of 5 p.m. New York time on Feb. 15, 2018. The new dividend yield for EXC is 3.4%.

“Exelon’s business position has continued to strengthen since 2016 with more earnings coming from our regulated utilities following the PHI acquisition, sustained industry leading utility earnings per share growth and greater stability for our generation fleet with the Illinois and New York zero emissions credit programs that sustain these carbon free, low cost assets,” said Christopher M. Crane, Exelon’s president and CEO. “We’ve also continued to focus on cost management and prudent balance sheet management. I am pleased we are able to share more of our financial success with our shareholders through this updated dividend policy.”

Exelon Corporation is utility services holding company. The company's utilities deliver electricity and natural gas to customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Through its Constellation business unit Exelon provides energy products and services to residential, public sector and business customers.