Hexcel Corp (HXL) will raise its quarterly dividend by 13.3 percent to $0.17 per share in 2019. This marks the 4th consecutive year of dividend increases by the composites company.

The next dividend is payable on August 9, 2019 to stockholders of record as of August 2, 2019. A new annualized rate of 68 cents per share yields 0.8% at a stock price of $83.57.

“The Board of Directors endorsement of an increased dividend reflects confidence in our ability to consistently deliver strong operating performance and generate increasing free cash flow. Our robust outlook, strong balance sheet and disciplined capital deployment strategy enables us to increase dividends to our stockholders while we continue to invest in technology and capacity to support our growth,” said Nick Stanage, Hexcel’s Chairman, CEO and President.

Hexcel Corporation is a composites company. The company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets. Hexcel products are used in a wide variety of end applications, such as commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, automotive, recreational products and other industrial applications. Hexcel Corporation, founded in 1946, was incorporated in California in 1948, and reincorporated in Delaware in 1983.