Citigroup (C) will raise its quarterly dividend by 40.6 percent to $0.45 per share in 2018. This follows a 100 percent dividend hike by the financial company last year and marks the 4th consecutive year of dividend increases.

The increased dividend will payable on August 24, 2018 to stockholders of record on August 6, 2018. Based on a stock price of $69.22 the new annual dividend yields 2.6%.

Citigroup Inc. (Citi) is a financial services holding company. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Citi reinstated its cash dividend in 2011, two years after suspending it in 2009.