Travelers Companies (TRV) will raise its quarterly dividend by 6.9 percent to $0.77 per share in 2018. Last year the company hiked its dividend by 7.5 percent.

The next dividend will be paid on June 29, 2018 to shareholders of record on June 8, 2018. The new dividend yield for TRV is 2.3%.

 "I am pleased to announce that our Board of Directors declared a 7% increase in our quarterly cash dividend to $0.77 per share, marking 14 consecutive years of dividend increases with a compound annual growth rate of about 10% over that period," commented Alan Schnitzer, Chairman and Chief Executive Officer in the company's press release.

The Travelers Companies, Inc. provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals. The company's segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Travelers is incorporated as a general business corporation under the laws of the State of Minnesota and is one of the oldest insurance organizations in the United States, dating back to 1853. Travelers Companies was added to the Dow Jones Industrial Average Index in June 2009 together with Cisco Systems, replacing Citigroup and General Motors.