United Parcel Service (NYSE:UPS) has raised its quarterly dividend. The company is to pay $0.62 per share of its class A and class B stock on March 12 to shareholders of record as of February 25. The new payout represents an increase of nearly 9% over its previous disbursement of $0.57, which was paid in each of the last four quarters.

The logistics firm is a habitual dividend payer, and it has steadily raised its disbursement over the years.

The upcoming payout annualizes to $2.48, yielding just under 3% on UPS' current stock price of $82.69.

Fool contributor Eric Volkman has no position in UPS. The Motley Fool recommends UPS. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.