Martin Marietta Materials is making a 5% increase in the quarterly cash dividend to $0.44 (forty-four cents) per share on the company's common stock.
This dividend, which represents a cash dividend of $1.76 per share on an annualized basis, is payable September 29, 2017, to shareholders of record at the close of business on September 5, 2017.
Ward Nye, chairman, Martin Marietta Materials said:, "We are dedicated to maintaining a disciplined capital allocation. As we have consistently indicated, our priorities for capital are valuable strategic acquisitions, organic investments, and returning cash to our shareholders through a meaningful and sustainable cash dividend and our share repurchase program.”
“Consistent with this objective, we are pleased that our performance and outlook for future growth in earnings and cash generation has enabled us to once again increase our annual cash dividend. We believe this allows us to return value to our shareholders over the long term."
