Martin Marietta Increases Quarterly Cash Dividend
Martin Marietta Materials (NYSE: MLM) has announced a 7% increase in its quarterly cash dividend, raising it from $0.57 to $0.61 per share.
Sentiment and the balance of points
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Rhea-AI Summary
Martin Marietta Materials (NYSE: MLM) has announced a 7% increase in its quarterly cash dividend, raising it from $0.57 to $0.61 per share. This translates to an annualized dividend of $2.44 per share, payable on September 30, 2021, to shareholders on record by September 1, 2021. The company emphasizes its strong cash generation and financial flexibility, which supports sustainable dividends while investing in growth opportunities. This aligns with Martin Marietta's commitment to enhancing shareholder value.
Positive
- 7% increase in quarterly cash dividend from $0.57 to $0.61 per share.
- Annualized dividend now totals $2.44 per share.
- Strong cash generation supports sustainable shareholder returns.
Negative
- None.
Details
News Market Reaction – MLM
The recorded move for MLM in the trading session of this news was -0.90%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
RALEIGH, N.C., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (“Martin Marietta” or the “Company”) today announced that its Board of Directors approved a 7 percent increase in its quarterly cash dividend, raising it from
Ward Nye, Chairman, President and Chief Executive Officer, stated, “Today’s announced dividend increase extends Martin Marietta’s track record of delivering meaningful and sustainable dividends as part of our longstanding and balanced capital allocation priorities. Our strong cash generation and financial flexibility allow the Company to prudently balance returning capital to shareholders and investing in growth opportunities, as we continue to drive sustainable growth and superior shareholder value.”
Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of building materials, including aggregates, cement, ready mixed concrete and asphalt. Through a network of operations spanning 26 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources for building the solid foundations on which our communities thrive. Martin Marietta’s Magnesia Specialties business produces high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.
Investor Contact:
Suzanne Osberg
Vice President, Investor Relations
(919) 783-4691
Suzanne.Osberg@martinmarietta.com
MLM-D
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