Monro Inc. (MNRO) will raise its quarterly dividend by another 8.3 percent to 26 cents per share. This follows a dividend hike of 9.1 percent to 24 cents per share in the previous quarter.

The next dividend will be payable on September 7, 2021 to shareholders of record as of August 23, 2021. A new annual rate of $1.04 per share yields 1.9% at a stock price of $55.66.

Monro, Inc., formerly Monro Muffler Brake, Inc., operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Mr. Tire, Tread Quarters Discount Tires, Autotire, Tire Warehouse, Tire Barn, Ken Towery’s Tire and Auto Care, The Tire Choice and Car-X. Monro’s stores provide a full range of services for brake systems, steering and suspension systems, tires, exhaust systems and many vehicle maintenance services and certain locations specialize in providing commercial tire and maintenance services. Through Tires Now, the Company also engages in wholesale tire distribution.