The Board of Directors of Albany International Corp. (NYSE:AIN) today declared a quarterly dividend of $0.25 per share on the Company's Class A Common Stock, an increase of 19% over the prior quarterly dividend of $0.21. The dividend is payable January 9, 2023, to shareholders of record on December 27, 2022.

"Today's dividend increase is the direct result of Albany's continued excellent cash generation, its strong balance sheet, and the Board's confidence in the company's prospects for continued growth," said Bill Higgins, President and CEO.

About Albany International Corp.

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world's leading producer of fabrics and process belts used in the manufacture of all grades of paper products. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs more than 4,100 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

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Albany International Increases Dividend