Steel Dynamics, Inc. (NASDAQ:STLD) Declares Quarterly Dividend of $0.53

Key Points

• $0.53 quarterly dividend declared (annualized $2.12), a 6.0% increase from $0.50; ex-dividend and record date is March 31 with payment on April 10, implying a yield of about 1.2%.
• The dividend is conservatively covered with a 17.2% payout ratio and the company has raised its dividend every year for 13 years, while recent quarterly EPS of $1.82 beat estimates ($1.72) and revenue was up 14% year-over-year.

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) declared a quarterly dividend on Friday, February 20th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.53 per share by the basic materials company on Friday, April 10th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. This is a 6.0% increase from Steel Dynamics's previous quarterly dividend of $0.50.

Steel Dynamics has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 13 years. Steel Dynamics has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Steel Dynamics to earn $12.10 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 17.5%.

Steel Dynamics Price Performance

Shares of STLD stock opened at $170.97 on Friday. Steel Dynamics has a 12 month low of $103.17 and a 12 month high of $208.47. The company has a market capitalization of $24.77 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.47 and a beta of 1.43. The stock has a 50 day moving average of $184.61 and a two-hundred day moving average of $166.75. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.Steel Dynamics's quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, equities analysts expect that Steel Dynamics will post 9.01 EPS for the current year.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.