International Game Technology, which makes slot machines and other gambling equipment, said Tuesday that its board approved a 1 cent increase to its regular dividend, raising it to 7 cents.
The new dividend, which represents a 17 percent increase, will be paid Dec. 31 to shareholders of record as of Dec. 19.
The Las Vegas-based company said the increase reflects its confidence in its business strategy and the sustainability of its cash flow.
International Game shares rose 25 cents to $13.23 in midday trading, after initially jumping to $13.54 at the beginning of the session. Over the past 52 weeks, the stock has traded between $10.92 and $18.10.