Gilead Sciences (GILD) will raise its quarterly dividend by 10.5 percent to $0.63 per share in the first quarter of 2019. Last year the company hiked its dividend by by double digits to 57 cents per share quarterly.

The dividend is payable on March 28, 2019, to stockholders of record at the close of business on March 15, 2019. A new annualized dividend rate of $2.52 per share yields 3.7% at a stock price of $67.88.

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines. The company's principal areas of focus include human immunodeficiency virus (HIV), liver diseases (hepatitis C and hepatitis B), cardiovascular, hematology/oncology and inflammation/respiratory. Gilead became a public company in 1992 and has been paying a dividend since 2015.