Materion (MTRN) will raise its quarterly dividend by 5 percent to $0.105 per share in the second quarter of 2018. This marks the 6th year of consecutive dividend increases by the engineered materials company.

The dividend is payable on June 1, 2018 to shareholders of record at the close of business on May 16, 2018.

Jugal Vijayvargiya, President and CEO, stated, “The dividend increase reflects our sixth consecutive annual increase and continuing confidence in the strength of our business, its prospects for long-term growth and our ability to generate cash sufficient to continue to grow the business organically as well as through acquisitions while returning cash to our shareholders.”

On an annualized basis, the amount of the dividend is $0.42 per share and equates to a yield of approximately 1% based on the Materion common stock price at the close of trading on May 1, 2018. The dividend represents a quarterly cash payout of approximately $2.1 million, or $8.4 million on an annualized basis.

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation has paid a dividend to shareholders every year since 2012.