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.