Huntington Ingalls Industries (HII) will raise its quarterly dividend by 19.4 percent to $0.86 per share in Q4 of 2018. This will mark the 6th consecutive year of annual dividend increases by the military shipbuilding company.

The $0.86 per share dividend will be payable on December 14, 2018, to shareholders of record as of the close of business on November 30, 2018.

The new annual dividend of $2.88 per share yields 1.6% at a stock price of $220.06 for HII.

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. The company's business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Integrated Missions Solutions, Nuclear & Environmental, and Oil & Gas groups.