Microchip Technology (MCHP) will raise its quarterly dividend by another 0.1 percent to $0.365 per share in the first quarter of 2019. This follows similar dividend hikes in each of the last couple of quarters.

The dividend is payable on March 7, 2019 to stockholders of record on February 21, 2019.  Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 58 times since its inception.

“Microchip’s financial results in the December 2018 quarter were good, in spite of a challenging economic backdrop, and produced $481.4 million of 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 36.50 cents per share, which continues to reflect our ongoing commitment to return value to our stockholders.”

Microchip Technology Incorporated manufactures specialized semiconductor products used for  embedded control applications. Its product portfolio targets the automotive, communications, computing, consumer and industrial control markets. Microchip is headquartered in Chandler, Arizona. The was incorporated in Delaware in 1989 and has been paying a dividend since 2003.