Monro Inc, formerly Monro Muffler Brake (MNRO), will raise its quarterly dividend by 11.1 percent to $0.20 per share in the second quarter of 2018. The company has now raised its dividend for 13 consecutive years.

The dividend of $.20 per share for the first quarter of fiscal 2019 will be payable on June 14, 2018 to shareholders of record as of June 4, 2018. The new dividend yield is 1.5%.

Monro, Inc., formerly Monro Muffler Brake, Inc., operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Mr. Tire, Tread Quarters Discount Tires, Autotire, Tire Warehouse, Tire Barn, Ken Towery’s Tire and Auto Care, The Tire Choice and Car-X. Monro’s stores provide a full range of services for brake systems, steering and suspension systems, tires, exhaust systems and many vehicle maintenance services and certain locations specialize in providing commercial tire and maintenance services. Through Tires Now, the Company also engages in wholesale tire distribution.