Martin Marietta Increases Quarterly Cash Dividend
August 24 2017 - 4:01PM
Martin Marietta Materials, Inc. (NYSE:MLM) today announced that its
Board of Directors approved a five percent increase in the
quarterly cash dividend to $0.44 (forty-four cents) per share on
the Company’s common stock. This dividend, which represents a cash
dividend of $1.76 per share on an annualized basis, is payable
September 29, 2017, to shareholders of record at the close of
business on September 5, 2017.
Ward Nye, Chairman and Chief Executive Officer
stated, “We are dedicated to maintaining a disciplined capital
allocation. As we have consistently indicated, our priorities for
capital are valuable strategic acquisitions, organic investments,
and returning cash to our shareholders through a meaningful and
sustainable cash dividend and our share repurchase program.
Consistent with this objective, we are pleased that our performance
and outlook for future growth in earnings and cash generation has
enabled us to once again increase our annual cash dividend. We
believe this allows us to return value to our shareholders over the
long term.”
Martin Marietta, a member of the S&P 500
Index, is an American-based company and a leading supplier of
building materials, including aggregates, cement, ready mixed
concrete and asphalt. Through a network of operations
spanning 26 states, Canada and The Bahamas, dedicated Martin
Marietta teams supply the resources for building the solid
foundations on which our communities thrive. Martin Marietta’s
Magnesia Specialties business provides a full range of magnesium
oxide, magnesium hydroxide and dolomitic lime products. For more
information, visit www.martinmarietta.com or
www.magnesiaspecialties.com.
Investor Contact:
Suzanne Osberg
Vice President, Investor Relations
(919) 783-4691
Suzanne.Osberg@martinmarietta.com
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