Walmart Inc. (WMT) will raise its quarterly dividend by 1.9 percent to $0.53 per share in 2019. This marks the 46th consecutive year of dividend increases by the retailer.

The next dividend will be paid on April 1, 2019 to shareholders of record on March 15, 2019. The new annualized dividend rate of $2.12 per share yields 2.1% at a stock price of $99.99.

“Dividends remain a key part of our capital allocation after we invest in the business to sustain long-term success,” said Brett Biggs, executive vice president and chief financial officer at Walmart Inc. “We are pleased to be increasing our annual dividend for the 46(th) consecutive year, which reflects the confidence we have in our future growth and strong balance sheet.”

Walmart Inc. is operates retail, wholesale and other units, as well as eCommerce websites, located throughout the U.S., Africa, Argentina, Brazil, Canada, Central America, Chile, China, India, Japan, Mexico and the United Kingdom. The company's operations comprise three reportable segments: Walmart U.S., Walmart International and Sam's Club. Although Walmart was incorporated in Delaware in October 1969, the businesses conducted by our founders began in 1945 when Sam M. Walton opened a franchise Ben Franklin variety store in Newport, Arkansas. The company has paid a dividend every year since 1973.