Press release
Steel Dynamics Announces First Quarter 2023 Cash Dividend Increase of 25%
FORT WAYNE, Ind., Feb. 27, 2023 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced that the company's board of directors declared a first
About this update from Steel Dynamics, Inc.
[{"type":"text","content":"FORT WAYNE, Ind., Feb. 27, 2023 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced that the company's board of directors declared a first quarter cash dividend of $0.425 per common share, a 25 percent increase over the company's 2022 quarterly rate. The dividend is payable to shareholders of record at the close of business on March 31, 2023 and is payable on or about April 14, 2023.\n\"These actions reflect the Board's and senior leadership's confidence in the consistency and strength of our cash generation capabilities,\" said Mark D. Millett, Chairman, President, and Chief Executive Officer. \"We have consistently grown our cash dividend to shareholders in alignment with our structural growth initiatives, maintaining a strong cash dividend growth profile. Based on our firm capital foundation and consistent cash generation, we have the ability to execute significant organic and transactional strategic growth initiatives, while sustaining strong shareholder distributions and remaining committed to maintaining our investment grade credit ratings.\"\nAbout Steel Dynamics, Inc.Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. All of Steel Dynamics' steel production facilities utilize electric arc furnace technology. Steel Dynamics produces steel products, including 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. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.\nForward-Looking StatementsThis report contains some predictive statements about future events, including statements related to conditions in domestic or global economies, conditions in steel, aluminum, and recycled metals market places, Steel Dynamics' revenues, costs of purchased materials, future profitability and earnings, and the operation of new, existing or planned facilities. These statements, which we generally precede or accompany by such typical conditional words as \"anticipate\",\"intend\",\"believe\",\"estimate\",\"plan\",\"seek...