Materion Corporation (MTRN) will raise its quarterly dividend by 4.5 percent to $0.115 per share in 2020. This marks the 8th year of consecutive dividend increases by the engineered materials company and follows a dividend hike of 4.8 percent that was announced in 2019.

The dividend is payable on June 10, 2020 to shareholders of record at the close of business on May 29, 2020. A new annual dividend rate of 46 cents per share yields 1,0% at a stock price of $47.57.

In the company's press release dated May 14, 2020 announcing this dividend hike Jugal Vijayvargiya, President and CEO, stated, “The dividend increase reflects our eighth consecutive annual increase and continuing confidence in the strength of our business, its prospects for long-term growth and our ability to generate cash sufficient to continue to grow the business organically as well as through acquisitions while returning cash to shareholders.”

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation has paid a dividend to shareholders every year since 2012.