By Ben Glickman
Birmingham, Alabama - Vulcan Materials, a leading construction-materials maker, has recently announced a significant increase in its quarterly cash dividend. The company stated that this decision reflects its strong financial position and dedication to its shareholders.
The new dividend has been declared at 46 cents per share, a 7% increase from the previous payout of 43 cents per share. With an annual yield of 0.77%, calculated based on the closing price of $240, the revised dividend amounts to $1.84 per year.
Vulcan's Chief Executive Officer, Tom Hill, expressed confidence in their robust growth business model, stating that this dividend increase serves as further proof of its viability. Hill also emphasized that the augmented payout is made possible by the company's solid cash generation, financial stability, and unwavering commitment to providing returns to its shareholders.
It is worth noting that this dividend raise comes one year after the last increase, during which the payout was raised by 8% to 43 cents per share.
The dividend will be made payable on March 18 to the shareholders listed as of the close of business on March 4.
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