Unum Group (UNM) will raise its quarterly dividend by 13 percent to $0.26 per share in 2018. This marks the 10th consecutive year of dividend increases by the financial protection benefits company.

The new dividend will be paid on August 17, 2018, to stockholders of record on July 30, 2018. Based on the current stock price of $38.14 the new $1.04 per share annual dividend for UMN yields 2.9%.

Unum Group is a leading provider of financial protection benefits in the United States and the United Kingdom. Its primary businesses are Unum US, Colonial Life, Starmount and Unum UK. Unum’s portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs.