Martin Marietta Increases Quarterly Cash Dividend
August 13 2020 - 05:07PM
Martin Marietta Materials, Inc. (NYSE:MLM) (“Martin Marietta” or
the “Company”) today announced that its Board of Directors approved
a 4 percent increase in its quarterly cash dividend, raising it
from $0.55 per share to $0.57 per share on the Company’s
outstanding common stock. This dividend, which represents a cash
dividend of $2.28 per share on an annualized basis, is payable on
September 30, 2020, to shareholders of record at the close of
business on September 1, 2020.
Ward Nye, Chairman, President and Chief
Executive Officer, stated, “Martin Marietta is proud to extend our
track record of delivering meaningful and sustainable dividends as
part of our balanced capital allocation strategy. Supported by our
strong financial position and durable business model, today’s
announced dividend increase underscores our continued confidence in
our Company’s future performance and cash generation as we
responsibly navigate the current uncertainties presented by the
COVID-19 pandemic and drive long-term sustainable growth and
shareholder value.”
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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