Trinseo (TSE) will raise its quarterly dividend by 20 percent to $0.36 per share in 2017. Last year the materials company initiated its dividend and this marks the first increase.

The dividend will be a cash distribution payable on July 25, 2017, to shareholders of record as of the close of business on July 11, 2017.

“I am pleased with Trinseo’s continued commitment to balance investment opportunities with return of capital to shareholders through an increased dividend and the new share repurchase program,” said Chris Pappas, President and CEO of Trinseo. “These programs underscore our confidence in our continued financial strength and the long-term outlook of our business."

Trinseo S.A. is a materials company engaged in the manufacture and marketing of synthetic rubber, latex and plastics. The company is focused on delivering solutions for products across a wide range of end-markets, including automotive, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires.