RALEIGH, N.C., Aug. 23, 2018 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE:MLM), today announced that its Board of Directors has approved a nine percent increase in the quarterly cash dividend, raising it from $0.44 per share to $0.48 per share on the Company’s outstanding common stock. This dividend, which represents a cash dividend of $1.92 per share on an annualized basis, is payable on September 28, 2018, to shareholders of record at the close of business on September 4, 2018.
Ward Nye, Chairman and Chief Executive Officer stated, “Since becoming a public company in 1994, Martin Marietta has maintained or increased its quarterly cash dividend payment. Today’s announced increase builds on our track record of delivering a meaningful and sustainable dividend as part of our long-standing and balanced capital allocation priorities. Martin Marietta’s strong cash flow and financial flexibility allow the Company to simultaneously return capital to shareholders through growing dividends and share repurchases, while also prudently investing in growth opportunities.”
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.
Vice President, Investor Relations
Source: Martin Marietta Materials, Inc.