The Hershey Company (HSY) will raise its quarterly dividend by 10.1 percent to $0.722 per share.

Last year HSY hiked its quarterly dividend by 6.1 percent to $0.656 per share. HSY has now raised its dividend for nine consecutive years.

The next dividend is payable on September 14, 2018 to stockholders of record August 24, 2018. The new annual dividend of $2.888 per share for HSY yields 3% at a stock price of $96.99.

The Hershey Company is a global chocolate and non-chocolate confectionery manufacturer. Hershey's products include chocolate, sweets, mints, gum and other snacks such as spreads, meat snacks, bars and snack bites and mixes, popcorn and protein bars and cookies. The company's brands include Hershey’s, Reese’s, Kisses, Jolly Rancher, Almond Joy, Brookside, barkTHINS, Cadbury, Good & Plenty, Heath, Kit Kat®, Lancaster, Payday, Rolo®, Twizzlers, Whoppers and York. Hershey's gum and mint products include Ice Breakers mints and chewing gum, Breathsavers mints and Bubble Yum bubble gum. Other brands are Krave meat snack products, Popwell half-popped corn snacks, ready-to-eat SkinnyPop popcorn, baked and trans fat free Pirate's Booty snacks and Oatmega and Paqui. Hershey was incorporated under the laws of the State of Delaware on October 24, 1927 as a successor to a business founded in 1894 by Milton S. Hershey.