Eaton Vance (EV) will raise its quarterly dividend by 12.9 percent to $0.35 per share in the fourth quarter of 2018.

This marks the 38th consecutive year of annual dividend increases by the investment management company.

The increased dividend is payable November 15, 2018, to shareholders of record on October 31, 2018. The ex-date for this next dividend of 35 cents per share for Eaton Vance is October 30, 2018.

The new annual dividend of $1.40 per share for EV yields 3.0% at a stock price of $46.24. Today's increase marks the 38th consecutive fiscal year that the company has raised its regular quarterly dividend, which has grown at a compound annual rate of 17 percent over that period.

Eaton Vance Corp., whose history dates back to 1924, manages investment funds and provides investment management and advisory services to high-net-worth individuals and institutions globally. The company operates offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates manages assets for individuals and institutions through investment strategies and wealth management solutions. Eaton Vance affiliates include EVM, Parametric, Atlanta Capital, Hexavest and Calvert.