diff --git a/docs/conf.py b/docs/conf.py
index b356694..040e339 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -14,7 +14,7 @@
 project = "pygradflow"
 copyright = "2023, Christoph Hansknecht"
 author = "Christoph Hansknecht"
-release = "0.5.15"
+release = "0.5.16"
 
 # -- General configuration ---------------------------------------------------
 # https://www.sphinx-doc.org/en/master/usage/configuration.html#general-configuration
diff --git a/pyproject.toml b/pyproject.toml
index bacb60d..36af5f6 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "pygradflow"
-version = "0.5.15"
+version = "0.5.16"
 description = "PyGradFlow is a simple implementation of the sequential homotopy method to be used to solve general nonlinear programs."
 authors = ["Christoph Hansknecht <christoph.hansknecht@tu-clausthal.de>"]
 readme = "README.md"