Payments technology company Visa Inc. (V) will raise its quarterly dividend by 19.0 percent to $0.25 per share in the fourth quarter of 2018.

This is the second dividend hike by Visa this year. In Q1 the quarterly payment was raised by 1.5 cents to 21 cents per share.

The increased dividend is payable on December 4, 2018, to all holders of record as of November 16, 2018. The ex-date for Visa’s next dividend of 25 cents per share is November 15.

The new annual dividend of $1.00 per share yields 0.7% at a stock price of $142.45.

Visa Inc., is a payments technology company enabling electronic payments for consumers, businesses, banks and governments worldwide. The company's transaction processing network, VisaNet, enables authorization, clearing, and settlement of payment transactions and provides financial institution and merchant clients with a range of products, platforms, and value-added services. Visa is not a bank and does not issue cards, extend credit, or set rates and fees for account holders on Visa products. Its financial institution clients are responsible for managing account holder and merchant relationships.