CHARLOTTE, N.C., Sept. 2, 2015 /PRNewswire/ -- The board of
directors of Nucor Corporation (NYSE: NUE) today approved the
repurchase of up to $900 million of
the company's common stock. Share repurchases will be made
from time to time in the open market at prevailing market prices,
through private transactions or block trades. The timing and
amount of repurchases will depend on market conditions, share
price, applicable legal requirements and other factors. The
board of directors also terminated any previously authorized
repurchase programs.
In a separate action, Nucor's board of directors declared the
regular quarterly cash dividend of $0.3725 per share on Nucor's common stock.
This cash dividend is payable on November
10, 2015 to stockholders of record on September 30, 2015, and is Nucor's
170th consecutive quarterly cash dividend.
Nucor and affiliates are manufacturers of steel products, with
operating facilities primarily in the U.S. and Canada. Products produced include: carbon and
alloy steel -- in bars, beams, sheet and plate; steel piling; steel
joists and joist girders; steel deck; fabricated concrete
reinforcing steel; cold finished steel; steel fasteners; metal
building systems; steel grating and expanded metal; and wire and
wire mesh. Nucor, through The David J. Joseph Company, also brokers
ferrous and nonferrous metals, pig iron and HBI/DRI; supplies
ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is
North America's largest
recycler.
Certain statements contained in this news release are
"forward-looking statements" that involve risks and
uncertainties. The words "believe," "expect," "project,"
"will," "should," "could" and similar expressions are intended to
identify those forward-looking statements. Factors that might
cause the Company's actual results to differ materially from those
anticipated in forward-looking statements include, but are not
limited to: (1) competitive pressure on sales and pricing,
including competition from imports and substitute materials; (2)
the sensitivity of the results of our operations to prevailing
steel prices and the changes in the supply and cost of raw
materials, including scrap steel; (3) market demand for steel
products; and (4) energy costs and availability. These and
other factors are discussed in Nucor's regulatory filings with the
Securities and Exchange Commission, including those in Nucor's
fiscal 2014 Annual Report on Form 10-K, Item 1A. Risk Factors. The
forward-looking statements contained in this news release speak
only as of this date, and Nucor does not assume any obligation to
update them.
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SOURCE Nucor Corporation