The Andersons Inc. (ANDE) will raise its quarterly dividend by 3.0 percent to $0.17 per share in the first quarter of 2019. This marks the 21st consecutive year of annual dividend increases by the agricultural and retail company.

The increased dividend is payable January 23, 2019, to shareholders of record on January 2, 2019. A new annualized dividend rate of 68 cents per share yields 2.5% at a stock price of $27.68.

"The increase in the dividend reflects our confidence in the Company's financial performance moving forward," says Brian Valentine, Senior Vice President and Chief Financial Officer.

The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also has a consumer retailing presence.