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Delphi Automotive will raise its annual dividend to $1.16 from $1, representing a 16 percent increase.

The automotive supplier based in the United Kingdom and with a significant presence in Troy, said Tuesday it also declared a quarterly dividend of 29 cents a share. That will be paid on Feb. 29 to shareholders on record as of Feb. 17.

“Delphi is committed to returning cash to our shareholders and today’s announcement further illustrates that commitment and our confidence in the continued growth and strong free cash flow generation of Delphi’s business,” Kevin Clark, Delphi president and CEO, said in a statement.

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