Steel Dynamics, Inc. (NASDAQ/GS: STLD) has announced an 8% increase in its first quarter cash dividend for 2024, with the dividend set at $0.46 per common share. This represents a significant rise from the company's 2023 quarterly rate.
Mark D. Millett, Chairman and CEO of Steel Dynamics, expressed confidence in the company's current and anticipated future cash flow generation capability and strong financial position. This increase in dividend reflects the company's commitment to consistently growing its cash dividend to shareholders in alignment with structural growth initiatives.
Steel Dynamics is among the largest domestic steel producers and metals recyclers in North America. Its estimated annual steelmaking and metals recycling capability, along with its facilities located throughout the United States and Mexico, position it as a key player in the industry.
The company's diverse range of steel products includes hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections, and steel joists and deck. Additionally, Steel Dynamics produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
Today the company's shares have moved 1.3% to a price of $132.72. If you want to know more, read the company's complete 8-K report here.
