By Colin Kellaher
Steel Dynamics' board has raised the steelmaker's quarterly dividend by 8.7%, to 50 cents a share from 46 cents, and earmarked another $1.5 billion for its stock repurchase program.
The new quarterly payout, equal to $2 a year, represents an annual yield of about 1.53%, based on Friday's closing price of $130.71, up from 1.41%.
The Fort Wayne, Ind., company on Monday said the increased dividend is payable April 11 to shareholders of record March 31.
Steel Dynamics, which has more than 152 million shares outstanding and sports a market capitalization of roughly $19.9 billion, said the new buyback is in addition to a $1.5 billion program authorized in November 2023 that had $194 million still available at the end of 2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 24, 2025 08:26 ET (13:26 GMT)
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