Celanese (CE) will raise its quarterly dividend by 17.4 percent to $0.54 per share in the second quarter of 2018. This follows a 27.8 percent dividend hike last year and marks the 9th consecutive year of dividend increases by the specialty materials company.

The next dividend is payable on May 10, 2018 to stockholders of record as of April 30, 2018. The new dividend yield for CE is 1.9%.

“Increasing our dividend consistently is a key element of our strategy to maximize long-term value for our shareholders. Today’s announcement marks the ninth consecutive year of dividend increases, and is both a reflection of our strong cash generation and confidence in the growth prospects for our business. During that period, the cash we have returned to shareholders through dividends has grown substantially to $241 million in 2017, versus $23 million in 2009,” said Mark Rohr, Chairman and Chief Executive Officer.

Rohr continued, “Last year, we committed to increasing our dividend by at least 50% over the three-year period through 2019 with a targeted payout of $300 million or more in 2019. This increase is the second of three annual steps to meet that goal.”

Celanese Corporation is a technology company specialized in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. It's segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. Celanese has operations in North America, Europe and Asia.