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

Nucor Corporation (NYSE:NUE) declared a quarterly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be given a dividend of 0.56 per share by the basic materials company on Tuesday, November 10th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th.

Nucor has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 52 years. Nucor has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Nucor to earn $20.32 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 11.0%.

Nucor Price Performance

Shares of NYSE NUE opened at $249.03 on Friday. Nucor has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The stock has a fifty day moving average of $254.95 and a 200-day moving average of $226.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The stock has a market cap of $56.50 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 0.95 and a beta of 1.87.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. Equities research analysts anticipate that Nucor will post 18.52 earnings per share for the current year.

About Nucor

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.