Kaiser Aluminum Corporation (KALU) will raise its quarterly dividend by 11.7 percent to $0.67 per share in the first quarter of 2020. Last year the dividend was hiked by 9.1 percent.

The next dividend will be payable on February 14, 2020 to shareholders of record as of the close of business on January 24, 2020. A new annualized dividend rate of $2.68 per share yields 2.5% at a stock price of $106.79.

“The increase in the quarterly dividend reflects our continued confidence in the long-term outlook for our business, the end markets we serve and opportunities to create further value for our shareholders,” said Jack A. Hockema, Chairman and CEO in today's press release. “We remained focused on managing our capital structure and liquidity for the financial strength and flexibility to support our strategic growth initiatives, and our ongoing commitment to return cash to shareholders throughout the business and economic cycles,” 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.