Cranbury-based Innophos Holdings Inc. announced Wednesday its board has approved a quarterly dividend to $0.40 per share of common stock.

According to the announcement, the dividend will be payable on November 29, 2013 to stockholders of record as of the close of business on November 15, 2013. The new rate represents a 14% increase over the previous $0.35 per share quarterly dividend rate and the fourth increase in less than three years.