STAMFORD, Conn., July 23, 2018 (GLOBE NEWSWIRE) -- Hexcel Corporation (NYSE:HXL) today announced that the Company’s Board of Directors has approved a 20 percent increase in the Company’s quarterly cash dividend rate (from $0.125 to $0.15 per common share). The dividend declared today is payable on August 10, 2018 to stockholders of record as of August 3, 2018.
“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 leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered core and composite structures, used in commercial aerospace, space and defense and industrial applications.
Vice President – Investor Relations
Source: Hexcel Corporation