Delta Air Lines (DAL) will raise its quarterly dividend by 14.8 percent to $0.35 per share in 2018.

This follows last year's 50 percent dividend hike and marks the fifth consecutive year of dividend increases by the company.

The September quarter dividend will be payable to shareholders of record as of the close of business on July 26, 2018, to be paid on August 16, 2018. The new dividend yields 2.8% at the current stock price of $50.73 for DAL.

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company's route network includes its international joint ventures, its alliances with other foreign airlines, its membership in SkyTeam and agreements with multiple domestic regional carriers that operate as Delta Connection.