CLEVELAND--(BUSINESS WIRE)--
Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced that the Company’s Board of Directors approved a regular quarterly cash dividend of $0.125 per share, which is an increase of $0.035 per share from the Company’s last quarterly dividend of $0.09 per share. The dividend is payable on March 15, 2023, to shareholders of record on March 1, 2023. The Company has paid a regular quarterly dividend since March 2006.
“Olympic Steel’s performance over the past two years has been extraordinary, and we are pleased to share that success with our shareholders by declaring a quarterly dividend that has been increased from $0.09 per share to $0.125 per share. We expect to maintain the quarterly dividend of $0.125 on a regular basis, subject to Board approval. We also look forward to sharing our fourth quarter and 2022 full-year results on Thursday, Feb. 23, followed by our quarterly earnings webcast on Friday, Feb. 24,” said Richard T. Marabito, Chief Executive Officer.
Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminum, tin plate, and metal-intensive branded products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricator of value-added parts and components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 44 facilities in North America.
For additional information, please visit the Company’s website at www.olysteel.com.
