Martin Marietta Increases Quarterly Cash Dividend
August 23 2018 - 4:30PM
Martin Marietta Materials, Inc. (NYSE:MLM), today announced that
its Board of Directors has approved a nine percent increase in the
quarterly cash dividend, raising it from $0.44 per share to $0.48
per share on the Company’s outstanding common stock. This dividend,
which represents a cash dividend of $1.92 per share on an
annualized basis, is payable on September 28, 2018, to shareholders
of record at the close of business on September 4, 2018.
Ward Nye, Chairman and Chief Executive Officer
stated, “Since becoming a public company in 1994, Martin Marietta
has maintained or increased its quarterly cash dividend payment.
Today’s announced increase builds on our track record of delivering
a meaningful and sustainable dividend as part of our long-standing
and balanced capital allocation priorities. Martin Marietta’s
strong cash flow and financial flexibility allow the Company to
simultaneously return capital to shareholders through growing
dividends and share repurchases, while also prudently investing in
growth opportunities.”
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 27 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
OsbergVice President, Investor Relations (919)
783-4691Suzanne.Osberg@martinmarietta.com
MLM-D
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