Martin Marietta Increases Quarterly Cash Dividend
RALEIGH, N.C., Aug. 10, 2022 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (“Martin Marietta” or the “Company”) today announced that its Board of Directors approved an 8 percent increase in its quarterly cash dividend, raising it from $0.61 per share to $0.66 per share on the Company’s outstanding common stock. This dividend, which represents a cash dividend of $2.64 per share on an annualized basis, is payable September 30, 2022, to shareholders of record at the close of business on September 1, 2022.
Ward Nye, Chairman, President and Chief Executive Officer, stated, “Today’s announced dividend increase extends Martin Marietta’s track record of delivering meaningful and sustainable dividends as a component of our balanced capital allocation priorities. Our strong financial position, free cash flow generation and durable, aggregates-led business model allow the Company to prudently return capital to shareholders while continuing to invest in future growth opportunities to create superior long-term shareholder value.”
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 28 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 produces high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.
Vice President, Investor Relations