Microchip Technology (MCHP) will raise its quarterly dividend by another 0.1 percent to $0.3665 per share in the 4th quarter of 2019. This follows similar dividend hikes in each of the last couple of quarters.

The next dividend is payable on December 5, 2019 to stockholders of record on November 21, 2019.  The new annual dividend rate of $1.466 per share yields 1.5% at a stock price of $100.

“Microchip had reasonably good financial performance in the September 2019 quarter in spite of a difficult economic environment,” said Steve Sanghi, Chief Executive Officer.  “Our Board is pleased to declare an increase in our quarterly dividend to a record 36.65 cents per share, which continues to reflect our ongoing commitment to returning 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. Microchip was incorporated in Delaware in 1989 and initiated quarterly cash dividend payments in the third quarter of fiscal year 2003.