STAMFORD, Conn.--(BUSINESS WIRE)--Regulatory News:
Hexcel Corporation (NYSE:HXL)(Paris:HXL) today announced that the Company’s Board of Directors has approved a 10 percent increase in the Company’s quarterly cash dividend rate (from $0.10 to $0.11 per common share). The dividend declared today is payable on May 11, 2016 to stockholders of record as of May 4, 2016.
“The Board of Directors endorsement of an increased dividend reflects confidence in our ability to grow the business and consistently deliver strong operating performance. Our robust outlook and strong balance sheet enables us to increase dividends to our stockholders while we continue to invest in 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, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.