American Express Company (AXP) will raise its quarterly dividend by 11.4 percent to $0.39 per share in 2018.

Last year the credit card company hiked its dividend by 3 cents to 35 cents per share quarterly. AXP has now increased its dividend every year since 2012.

The increased dividend is payable November 9, 2018 to shareholders of record on October 5, 2018. The ex-dividend date will be October 4, 2018. The new annual dividend of $1.56 per share yields 1.4% at a stock price of $109.87.

American Express is an integrated payments company. The company's principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its operating segments are: Global Consumer Services Group (GCSG), Global Commercial Services (GCS) and Global Merchant & Network Services (GNMS). American Express began doing business on March 28, 1850 and was first listed on the New York Stock Exchange on May 18, 1977. The company has increased dividends every year since 2012.