Hexcel Corp. (HXL) will raise its quarterly dividend by 10 percent to $0.11 per share in 2016. Last year the composites company initiated a dividend and this is the first ever dividend hike.

Hexcel Corporation is a composites company. The company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets. Hexcel products are used in a wide variety of end applications, such as commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, automotive, recreational products and other industrial applications. Hexcel Corporation, founded in 1946, was incorporated in California in 1948, and reincorporated in Delaware in 1983.