Albany International Corp (AIN) will raise its quarterly dividend by 5.9 percent to $0.18 per share in the fourth quarter of 2018.

The increased dividend is payable on January 8, 2019, to shareholders of record on December 26, 2018. A new annualized dividend rate of 72 cents per share yields 1.1% at a stock price of $67.51.

Albany International Corp. is a global advanced textiles and materials processing company, with two core businesses. Machine Clothing is the world's leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites is a rapidly growing supplier of highly engineered composite parts for the aerospace industry.