Albany International Corp (AIN) will raise its quarterly dividend by 5.6 percent to $0.19 per share in the fourth quarter of 2019. This follows last year's 5.9 percent dividend hike.

The next dividend is payable January 8, 2020, to shareholders of record on December 23, 2019. A new annualized dividend rate of 76 cents per share yields 0.9% at a stock price of $82.

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.