Nucor Corporation Plans Quarterly Dividend of $0.56 (NYSE:NUE)

Nucor Corporation (NYSE:NUE) declared a quarterly dividend on Tuesday, June 9th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.56 per share by the basic materials company on Tuesday, August 11th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th.

Nucor has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 52 consecutive years. Nucor has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nucor to earn $16.87 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 13.3%.

Nucor Stock Performance

Shares of Nucor stock traded up $0.43 during trading on Tuesday, reaching $253.83. The company’s stock had a trading volume of 1,110,946 shares, compared to its average volume of 1,620,419. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The business’s fifty day moving average price is $215.40 and its 200-day moving average price is $185.90. The firm has a market cap of $57.81 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88. Nucor has a one year low of $115.66 and a one year high of $264.67.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. As a group, equities research analysts predict that Nucor will post 14.84 earnings per share for the current year.

Nucor declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.