Apache (NYSE:APA) has announced an increase in its quarterly dividend. For its upcoming disbursement, the company will pay $0.20 per common share on May 22 to stockholders of record as of the close of April 22. That payout represents an 18% increase over the $0.17 Apache paid in its previous four quarters. Before that, the company had paid $0.15 every quarter since April 2008.

At an annualized rate, the company's new dividend yields just under 1% on its current stock price.

Apache is scheduled to report its Q4 results on Thursday.

Fool contributor Eric Volkman has no position in Apache. The Motley Fool owns shares of Apache. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.