Dillard's (NYSE:DDS) this week announced plans to increase its quarterly dividend payout from $0.05 per share of Class A and Class B Common stock to $0.06. This is a 20% increase, and the first time the company has raised its quarterly amount since May 2011, when its payout was $0.04 per share.

Dillard's latest dividend will be payable Nov. 4 to shareholders of record as of Sept. 30. The company has paid a quarterly dividend to shareholders since September 1987. The annualized amount for Dillard's dividend tallies up to $0.24 per share. As of market close on Aug. 20, Dillard's stock was trading at $79.78, which means its dividend payout currently yields 0.3%.