Allergan plc (AGN) will raise its quarterly dividend by 2.9 percent to $0.72 per share in the first quarter of 2018. Its the first dividend hike by the botox maker since a dividend was initiated in 2016.

The dividend will be paid on March 28, 2018 to shareholders of record at the close of business on February 28, 2018. The new dividend yield for AGN is 1.7%.

Allergan plc, headquartered in Dublin, Ireland, is a pharmaceutical company. The company makes branded pharmaceutical, device, biologic, surgical and regenerative medicine products. Allergan markets a portfolio of brands and products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories. The company's best known brand is Botox.