Chubb (NYSE:CB) has declared its latest quarterly dividend. The company is to distribute $0.44 per share of its common stock on April 2 to shareholders of record as of March 15. This represents a 7% increase over the company's previous dividend of $0.41 per share.

According to Chubb's press release announcing the new payout, this marks the 31st year in a row the disbursement has been increased. It also follows a fresh $1.3 billion stock repurchase program announced by the company last month.

The new dividend annualizes to $1.76 per share. That yields 2.1% at the firm's current stock price of $84.03.