The aluminum products company will pay a dividend of 30 cents per share, up from 25 cents, on Feb. 15 to shareholders of record as of Jan. 25.
Kaiser Aluminum said the move reflects its confidence in its financial strength and future performance. The company, based in Foothills Ranch, Calif., has paid a quarterly dividend since 2007.
Shares fell 38 cents to close at $63.67, in line with the broader Nasdaq market activity for the day. Its shares were unchanged in after-hours trading following the announcement.