Please answer the given financial question based on the context.
Context: derivative instruments see quantitative and qualitative disclosures about market risk for a discussion of derivative instruments and associated market risk . dividends to stockholders dividends of $ 0.92 per common share or $ 637 million were paid during 2007 . on january 27 , 2008 , our board of directors declared a dividend of $ 0.24 cents per share on our common stock , payable march 10 , 2008 , to stockholders of record at the close of business on february 20 , 2008 . liquidity and capital resources our main sources of liquidity and capital resources are internally generated cash flow from operations , committed credit facilities and access to both the debt and equity capital markets . our ability to access the debt capital market is supported by our investment grade credit ratings . our senior unsecured debt is currently rated investment grade by standard and poor 2019s corporation , moody 2019s investor services , inc . and fitch ratings with ratings of bbb+ , baa1 , and bbb+ . these ratings were reaffirmed in july 2007 after the western acquisition was announced . because of the alternatives available to us , including internally generated cash flow and potential asset sales , we believe that our short-term and long-term liquidity is adequate to fund operations , including our capital spending programs , stock repurchase program , repayment of debt maturities and any amounts that ultimately may be paid in connection with contingencies . we have a committed $ 3.0 billion revolving credit facility with third-party financial institutions terminating in may 2012 . at december 31 , 2007 , there were no borrowings against this facility and we had no commercial paper outstanding under our u.s . commercial paper program that is backed by this revolving credit facility . on july 26 , 2007 , we filed a universal shelf registration statement with the securities and exchange commission , under which we , as a well-known seasoned issuer , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities . our cash-adjusted debt-to-capital ratio ( total debt-minus-cash to total debt-plus-equity-minus-cash ) was 22 percent at december 31 , 2007 , compared to six percent at year-end 2006 as shown below . this includes $ 498 million of debt that is serviced by united states steel . ( dollars in millions ) 2007 2006 .
|( dollars in millions )|2007|2006|
|long-term debt due within one year|$ 1131|$ 471|
|long-term debt|6084|3061|
|total debt|$ 7215|$ 3532|
|cash|$ 1199|$ 2585|
|trusteed funds from revenue bonds ( a )|$ 744|$ 2013|
|equity|$ 19223|$ 14607|
|calculation:|||
|total debt|$ 7215|$ 3532|
|minus cash|1199|2585|
|minus trusteed funds from revenue bonds|744|2013|
|total debt minus cash|5272|947|
|total debt|7215|3532|
|plus equity|19223|14607|
|minus cash|1199|2585|
|minus trusteed funds from revenue bonds|744|2013|
|total debt plus equity minus cash|$ 24495|$ 15554|
|cash-adjusted debt-to-capital ratio|22% ( 22 % )|6% ( 6 % )|
( a ) following the issuance of the $ 1.0 billion of revenue bonds by the parish of st . john the baptist , the proceeds were trusteed and will be disbursed to us upon our request for reimbursement of expenditures related to the garyville refinery expansion . the trusteed funds are reflected as other noncurrent assets in the accompanying consolidated balance sheet as of december 31 , 2007. .
Question: did the company increase it's quarterly dividend rate from 2007 to 2008?


Answer: The answer is:yes