AMETEK, Inc. (AME) will raise its quarterly dividend by 55.6 percent to $0.14 per share in the first quarter of 2018. This is the first dividend hike since 2014 for AME.

The dividend is payable on March 29, 2018 to shareholders of record as of March 16, 2018. The new dividend yield for the company is 0.7%.

"AMETEK's businesses continue to operate at a very high level, delivering outstanding cash flow generation and excellent operating results," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "We remain focused on delivering double digit earnings growth over the business cycle by executing our proven Growth Strategies. Our primary use of free cash flow will be to continue supporting our acquisition strategy, driving long-term shareholder value. Strong cash flow generation will enable us to continue funding these strategies, while also rewarding shareholders with a higher cash dividend."

AMETEK, Inc. is a manufacturer of electronic instruments and electromechanical devices. The company has operations in North America, Europe, Asia and South America. Its end markets include medical, automation, petrochemical and other industrial markets. AME operates a network of aviation maintenance, repair and overhaul (MRO) facilities. The company has paid a dividend every year to shareholders since 1997.