Commercial Metals boosts quarterly dividend by 13% according to Investing.com

Commercial Metals boosts quarterly dividend by 13% according to Investing.com

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IRVING, Texas – Commercial Metals Company (NYSE:), a key player in the global construction industry, announced an increase in its quarterly cash dividend. The board declared a dividend of $0.18 per share, up from $0.16 per share, an increase of 13% from the previous quarter. This increase reflects the company’s positive outlook and its commitment to creating value for its shareholders.

The next dividend, which constitutes the Company’s 238th consecutive quarterly payment, is scheduled for April 10, 2024 and will be paid to shareholders of record as of April 1, 2024. The decision to increase the dividend is supported by the Company’s confidence in its financial health and cash flow. flow capabilities, as stated by Peter R. Matt, President and CEO of Commercial Metals.

According to Matt, the move is part of a broader capital allocation strategy that aims to balance growth with competitive cash returns for shareholders. The company also recently increased its share repurchase authorization, demonstrating the importance it places on shareholder returns.

Commercial Metals, with its manufacturing network primarily in the United States and Central Europe, provides essential products and technologies to the construction industry. The company’s solutions address a range of construction applications, including non-residential, residential, industrial infrastructure, power generation and transmission.

Although the announcement is optimistic, it contains forward-looking statements regarding the company’s future financial performance and strategic plans. These statements are based on management’s current expectations and are subject to change due to various risk factors and uncertainties, which the Company acknowledges could materially affect actual results.

Investors should note that the Company’s forward-looking statements, including those regarding its cash flows, financial condition and business prospects, are not guarantees of future performance. Actual results may vary materially due to factors such as economic conditions, changes in commodity prices, industry capacity and world events such as the Russian invasion of Ukraine.

This news article is based on a press release from Commercial Metals Company and provides a factual summary of the company’s dividend increase announcement.

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