United Parcel Service Inc. (UPS) will raise its quarterly dividend by 5.2 percent to $1.01 per share in the first quarter of 2020. This follows a 5.5 percent dividend hike by the package delivery company last year and marks the 11th consecutive year of dividend increases.

The increased dividend is payable March 10, 2020 to shareowners of record on February 25, 2020. The new annual dividend rate of $4.04 per share yields 3.8% at a stock price of $105.77.

United Parcel Service, Inc. (UPS) is a package delivery company. The company offers a spectrum of the United States domestic guaranteed ground and air package transportation services. The International Package segment includes the small package operations in Europe, Asia-Pacific, Canada and Latin America, the Indian sub-continent, the Middle East and Africa. UPS was founded in 1907 as a messenger company in the United States. The company had its IPO in 1999 and has paid a dividend every year since 1969.