Microchip Technology (MCHP) will raise its quarterly dividend by another 0.1 percent to $0.367 per share in the 1th quarter of 2020. This follows similar dividend hikes in each of the last couple of quarters.

The next dividend is payable on March 6, 2020 to stockholders of record on February 21, 2020.  The new annual dividend rate of $1.47 per share yields 1.4% at a stock price of $106.59.

From the company's press release: “Microchip’s financial performance in the December 2019 quarter was excellent in the backdrop of an uncertain economic environment,” said Steve Sanghi, Chief Executive Officer.  “Our Board is pleased to declare an increase in our quarterly dividend to a record 36.70 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