Commercial Metals Company (CMC) to Distribute Quarterly Dividend of $0.20 on November 11th

Commercial Metals Company (NYSE:CMC) declared a quarterly dividend on Tuesday, October 13th. Shareholders of record on Wednesday, October 28th will be paid a dividend of $0.20 per share by the basic materials company on Wednesday, November 11th. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, October 28th.

Commercial Metals has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Commercial Metals has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $7.68 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.4%.

Commercial Metals Price Performance

Shares of CMC opened at $65.26 on Thursday. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.22 billion, a PE ratio of 12.29, a PEG ratio of 0.25 and a beta of 1.53. Commercial Metals has a 12-month low of $53.08 and a 12-month high of $84.87. The business has a 50-day simple moving average of $67.17 and a two-hundred day simple moving average of $68.27.

Commercial Metals announced that its board has approved a stock repurchase program on Wednesday, August 5th that allows the company to buy back $600.00 million in shares. This buyback authorization allows the basic materials company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a steel and metals manufacturer, fabricator and recycler headquartered in Irving, Texas. Founded in 1915, the company operates a vertically integrated business that collects and processes ferrous scrap, produces steel and supplies products used in construction and infrastructure projects.

CMC’s product portfolio includes reinforcing bar, merchant bar, wire rod, structural components and other steel products. Through its fabrication and construction services, the company also processes and prepares reinforcing steel for commercial, industrial, transportation and other building projects.