The board of Sempra Energy, meeting on Feb. 21, increased the dividend on the company’s common stock by 8.1 percent. The yearly dividend is now $3.87 per share.

The company noted it is the ninth consecutive year it has increased its dividend. Since 2014, the payout has grown more than 47 percent.

Shareholders of record on March 22 will receive their first quarterly installment of approximately 96 cents per share on April 15.

Directors also declared a quarterly dividend of $1.50 per share on the company’s 6 percent Series A Mandatory Convertible Preferred Stock. It declared a quarterly dividend of approximately $1.68 per share on the company’s 6.75 percent Series B Mandatory Convertible Preferred Stock. Dividends on the preferred stock will be payable April 15 to shareholders of record April 1.

Sempra (NYSE: SRE) is a Fortune 500 company focused on energy infrastructure and delivery. It has a sizable interest in liquefied natural gas (LNG) exports.