Nucor Corporation (NYSE:NUE) Declares Quarterly Dividend of $0.56

Key Points

• Nucor declared a quarterly dividend of $0.56 per share, payable November 10 to shareholders of record as of September 30. The dividend equates to an annualized $2.24 and an approximately 0.9% yield.
• Nucor has increased its dividend for 52 consecutive years, with a 20.9% payout ratio indicating substantial earnings coverage; analysts expect an even lower future payout ratio of 11.0%.
• The stock fell 6.1% to $249.03 in Friday trading, despite the company reporting quarterly EPS of $4.84—above the $4.46 consensus—and revenue of $10.40 billion, up 23% year over year.

Nucor Corporation (NYSE:NUE - Get Free Report) announced a quarterly dividend on Friday, September 18th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.56 per share by the basic materials company on Tuesday, November 10th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th.

Nucor has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 52 consecutive years. Nucor has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Nucor to earn $20.32 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 11.0%.

Nucor Trading Down 6.1%

Shares of NUE stock traded down $16.11 during trading hours on Friday, hitting $249.03. 3,194,489 shares of the company were exchanged, compared to its average volume of 1,579,805. The company has a 50 day simple moving average of $254.52 and a two-hundred day simple moving average of $226.67. The firm has a market cap of $56.50 billion, a P/E ratio of 19.86, a P/E/G ratio of 0.94 and a beta of 1.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor has a fifty-two week low of $131.32 and a fifty-two week high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period in the prior year, the firm earned $2.60 earnings per share. Nucor's revenue was up 23.0% on a year-over-year basis. Equities analysts anticipate that Nucor will post 18.52 EPS for the current year.

About Nucor

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.

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