Northwest Natural Gas (NYSE:NWN) ticked higher Monday after the company said it plans to increase its quarterly dividend for the 55th consecutive year.

The Portland, Oregon-based company’s board of directors approved a dividend of 43.5 cents a share, up 5% from 41.5 cents in the same quarter last year.

The dividend will be paid Nov. 15 to shareholders of record on Oct. 29.

The indicated annual dividend rate is now $1.74 a share.