By Maria Armental 

GameStop Corp., which said in February it is taking over some RadioShack Corp. stores, is raising its annual dividend by 9%.

The Grapevine, Texas, videogame retailer will pay $1.44 a share, up from the current $1.32 a share. It will pay a quarterly dividend of 36 cents a share on March 24.

GameStop won bankruptcy court approval to reopen 163 RadioShack stores, boosting its Spring Mobile business, which is an exclusive AT&T dealer.

The company has largely benefited from strong demand for next-generation consoles from Microsoft Corp., Sony Corp. and Nintendo Co. Ltd. Still, in January, GameStop said sales at existing stores fell 3.1% and total sales 6.7%-- or 4% on a constant-currency basis--for the nine weeks ended Jan. 3.

Shares, up 4% over the past 12 months, edged up to $39 in recent after-hours trading.

Write to Maria Armental at maria.armental@wsj.com

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