FORT WAYNE, Ind., Feb. 20, 2018 /PRNewswire/ -- Steel
Dynamics, Inc. (NASDAQ/GS: STLD) today announced that the company's
board of directors has declared a quarterly cash dividend
of $0.1875 per common share, a 21 percent increase over
the company's 2017 quarterly rate. The dividend is payable to
shareholders of record at the close of business on March 31,
2018, and is payable on or about April 13, 2018.
"We are pleased that our board of directors took this action,
based on our confidence in the current and anticipated future
strength of our cash flow generation capability and strong
financial position. Our ability to consistently generate
strong cash flow has clearly been demonstrated throughout all
market cycles," said Mark D.
Millett, President and Chief Executive Officer. "This
performance is derived from our low, highly variable cost structure
and diversified, value-added product offerings. We believe this
action reflects the strength of our capital structure and liquidity
profile, and the continued optimism and confidence in our future
prospects."
About Steel Dynamics, Inc.
Steel Dynamics, Inc. is one of the largest domestic steel
producers and metals recyclers in the
United States based on estimated annual steelmaking and
metals recycling capability, with facilities located throughout
the United States, and in
Mexico. Steel Dynamics produces
steel products, including hot roll, cold roll, and coated sheet
steel, structural steel beams and shapes, rail, engineered
special-bar-quality steel, cold finished steel, merchant bar
products, specialty steel sections and steel joists and deck. In
addition, the company produces liquid pig iron and processes and
sells ferrous and nonferrous scrap.
Forward-Looking Statements
This press release contains some predictive statements about
future events, including statements related to conditions in the
steel and metallic scrap markets, Steel Dynamics' revenues, costs
of purchased materials, future profitability and earnings, and the
operation of new or existing facilities. These statements, which we
generally precede or accompany by such typical conditional words as
"anticipate," "intend," "believe," "estimate," "plan," "seek,"
"project" or "expect," or by the words "may," "will," or "should,"
are intended to be made as "forward-looking," subject to many risks
and uncertainties, within the safe harbor protections of the
Private Securities Litigation Reform Act of 1995. These statements
speak only as of this date and are based upon information and
assumptions, which we consider reasonable as of this date,
concerning our businesses and the environments in which they
operate. Such predictive statements are not guarantees of future
performance, and we undertake no duty to update or revise any such
statements. Some factors that could cause such forward-looking
statements to turn out differently than anticipated include: (1)
the effects of uncertain economic conditions; (2) cyclical and
changing industrial demand; (3) changes in conditions in any of the
steel or scrap-consuming sectors of the economy which affect demand
for our products, including the strength of the non-residential and
residential construction, automotive, appliance, pipe and tube, and
other steel-consuming industries; (4) fluctuations in the cost of
key raw materials (including steel scrap, iron units, and energy
costs) and our ability to pass-on any cost increases; (5) the
impact of domestic and foreign import price competition; (6)
unanticipated difficulties in integrating or starting up new or
acquired businesses; (7) risks and uncertainties involving product
and/or technology development; and (8) occurrences of unexpected
plant outages or equipment failures.
More specifically, we refer you to Steel Dynamics' more detailed
explanation of these and other factors and risks that may cause
such predictive statements to turn out differently, as set forth in
our most recent Annual Report on Form 10-K under the headings
Special Note Regarding Forward-Looking Statements and Risk Factors,
in our quarterly reports on Form 10-Q or in other reports which we
from time to time file with the Securities and Exchange Commission.
These are available publicly on the SEC website, www.sec.gov, and
on the Steel Dynamics website, www.steeldynamics.com: Investors:
SEC Filings.
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SOURCE Steel Dynamics, Inc.