The Sherwin-Williams Company (SHW) engages in the development, manufacture, distribution, and sale of paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean region, Europe, and Asia. It offers architectural paints and coatings, protective and marine products, automotive finishes, original equipment manufacturer product refinish, and related items under the Sherwin-Williams brand and other controlled brands. The company also licenses certain technology and trade names worldwide. Sherwin-Williams sells its products through a network of company-operated stores, direct sales staff, and outside sales representatives to retailers, dealers, jobbers, licensees, and various third party distributors. As of December 31, 2013, it operated a chain of approximately 4,000 stores and facilities. The company was founded in 1866 and is headquartered in Cleveland, Ohio. Sherwin-Williams is largely affected by raw chemical and commodity prices. Sherwin-Williams has been increasing its dividend payment since 1979. The company is known as a dividend aristocrat, as it has been increasing its dividend consecutively annually for more than 25 years. Sherwin-Williams pays its dividend quarterly.