US metals producer Steel Dynamics approved an additional 3 billion dollars of share repurchases, effective immediately. Its earlier program still had unused authority at the end of September. The board also declared a quarterly dividend of 0.53 dollars per share, with payment planned around 8 January 2027. Purchases remain discretionary.
US metals producer Steel Dynamics announced additional board authority to repurchase its shares and declared a quarterly cash dividend.[1], [2]
The new authorization, approved on 9 November, permits another 3 billion dollars in purchases and took effect immediately. It adds to an earlier 1.5 billion dollar program, which had 216 million dollars remaining on 30 September.[1]
Repurchases can occur on the open market or in private transactions. Steel Dynamics will consider share prices, alternative growth and investment opportunities, expected free cash flow and economic conditions. The authorization sets no compulsory number of shares to buy. The company may change, suspend, extend or end the program without prior notice.[1]
The quarterly dividend is 0.53 dollars per common share. Shareholders on the register on 31 December are due to receive payment around 8 January 2027. Steel Dynamics said that between 2017 and 30 September it spent 8.2 billion dollars repurchasing shares and paid 2.2 billion dollars in cash dividends. Its activities include steelmaking, scrap recycling and steel fabrication.[1]
