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Steelcase (SCS) will raise its quarterly dividend by 7.4 percent to $0.145 per share in the first quarter of 2019. The new annual dividend rate yields 3.3% at current stock prices.

The increased dividend will be paid on or before April 12, 2019, to shareholders of record as of March 29, 2019.This marks the 9th consecutive year of dividend increases by the company.

Steelcase Inc. provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The company’s brands include Steelcase, Coalesse, Designtex, PolyVision and Turnstone.