Microchip Technology (MCHP) will raise its quarterly dividend by another 0.1 percent to $0.3645 per share in the fourth quarter of 2018. In the three two quarters the semiconductor company also raised the dividend by 0.1 percent, making 2018 the 16th consecutive year of annual dividend increases.

The dividend is payable on December 5, 2018 to stockholders of record on November 21, 2018.  Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 57 times since its inception.

A new annualized dividend of $1.458 per share for MCHP yields 2.0% at a stock price of $72.13.

“Microchip’s financial results in the September 2018 quarter were strong, including record cash flows from operations,” said Steve Sanghi, Chief Executive Officer.  “Our Board of Directors is pleased to declare an increase in our quarterly dividend to a record 36.45 cents per share, which continues to reflect our ongoing commitment to return value to our stockholders.”

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The company, headquartered in Chandler, Arizona, provides microcontroller, mixed-signal, analog and Flash-IP solutions.