Nucor Corporation (NYSE:NUE) Declares Quarterly Dividend of $0.56

Nucor Corporation (NYSE:NUE) declared a quarterly dividend on Friday, February 20th. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.56 per share by the basic materials company on Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st.

Nucor has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 52 consecutive years. Nucor has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nucor to earn $10.99 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 20.4%.

Nucor Stock Down 0.1%

NUE traded down $0.13 during midday trading on Friday, reaching $179.91. 2,073,418 shares of the company were exchanged, compared to its average volume of 1,930,118. The company has a market cap of $41.17 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 0.65 and a beta of 1.86. Nucor has a one year low of $97.59 and a one year high of $196.90. The company’s fifty day moving average price is $174.25 and its 200 day moving average price is $155.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.18). The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. As a group, analysts expect that Nucor will post 7.64 EPS for the current year.

Nucor declared that its board has authorized a share repurchase plan on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.