Trinseo (TSE) will raise its quarterly dividend by 11.1 percent to $0.40 per share in the third quarter of 2018. Last the materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber raised its dividend by six cents to $0.36 per share quarterly.

The dividend will be a cash distribution payable on July 25, 2018, to shareholders of record as of the close of business on July 11, 2018. The new annual dividend yields 2.0%.

“This double-digit percentage increase in our dividend reflects confidence in our cash generation, and is aligned with our balanced approach to capital allocation,” said Chris Pappas, President and CEO of Trinseo.

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.