Martin Marietta Increases Quarterly Cash Dividend
August 14 2019 - 4:58PM
Martin Marietta Materials, Inc. (NYSE:MLM) today announced that its
Board of Directors approved a 15 percent increase in its quarterly
cash dividend, raising it from $0.48 per share to $0.55 per share
on the Company’s outstanding common stock. This dividend, which
represents a cash dividend of $2.20 per share on an annualized
basis, is payable on September 30, 2019, to shareholders of record
at the close of business on September 3, 2019.
Ward Nye, Chairman, President and Chief
Executive Officer, stated, “During our 25 years as a public
company, Martin Marietta has responsibly grown and managed our
business to create long-term shareholder value. Today’s announced
dividend increase, which represents one of the largest in our
Company’s history, builds on our track record of delivering
meaningful and sustainable dividends as part of our balanced
capital allocation strategy. We are proud to be the only public
company in our industry to have never reduced or suspended our
dividend payments – a testament to Martin Marietta’s steadfast
focus on cash generation, balance sheet strength and operational
excellence.”
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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