Ameriprise Financial (AMP) will raise its quarterly dividend by 7.8 percent to $0.97 per share in the second quarter of 2019. This follows last year's dividend hike of 8.4 percent to $0.90 per share quarterly.

The new dividend is payable on May 17, 2019 to shareholders of record at the close of business on May 6, 2019. A new annualized rate of $3.88 per share yields 2.7% at a stock price of $145.

Ameriprise Financial, Inc. is a financial services company that offers financial solutions to individual and institutional clients. The company provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs. Ameriprise utilizes two go-to-market approaches in carrying out this strategy: Wealth Management and Asset Management. The company has operations worldwide with assets in The United States, the United Kingdom, Continental Europe, Asia, Australia, the Middle East, South America and Africa. Ameriprise Financial has paid a dividend to shareholders every year since 2005.