Kaiser Aluminum Corporation (KALU) will raise its quarterly dividend by 9.1 percent to $0.60 per share in the first quarter of 2019. Last year the dividend was hiked by 10.0 percent.

The next dividend will be payable on February 15, 2019 to shareholders of record as of the close of business on January 25, 2019. A new annualized dividend rate of $2.40 per share yields 2.5% at a stock price of $97.

“This represents the eighth consecutive year our Board has increased the quarterly dividend, reflecting confidence in the consistency of our strategy, the long-term outlook for our business and opportunities to continue to create value for our shareholders,” said Jack A. Hockema, Chairman and CEO. “We maintain a focus on financial strength and flexibility and manage our liquidity and conservative capital structure to remain strong through the business and economic cycles. Our strong balance sheet and cash flow generation support our priorities for capital deployment including further investments in organic and inorganic growth and continued returns of cash to shareholders,” stated Mr. Hockema.

Kaiser Aluminum Corporation is a producer of semi-fabricated specialty aluminum mill products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube and wire products. Kaiser Aluminium was founded in 1946 and has paid a dividend every year since 2007.