Steel Dynamics, Inc.  today announced that the company's board of directors declared a first quarter cash dividend of $0.425 per common share, a 25 percent increase over the company's 2022 quarterly rate. The dividend is payable to shareholders of record at the close of business on March 31, 2023 and is payable on or about April 14, 2023.

"These actions reflect the Board's and senior leadership's confidence in the consistency and strength of our cash generation capabilities," said Mark D. Millett, Chairman, President, and Chief Executive Officer. "We have consistently grown our cash dividend to shareholders in alignment with our structural growth initiatives, maintaining a strong cash dividend growth profile. Based on our firm capital foundation and consistent cash generation, we have the ability to execute significant organic and transactional strategic growth initiatives, while sustaining strong shareholder distributions and remaining committed to maintaining our investment grade credit ratings."

Source:prnewswire.com