Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced that the company’s board of directors declared a first quarter cash dividend of $0.50 per common share, representing a 9% increase over the company’s 2024 quarterly rate. The dividend is payable to shareholders of record at the close of business on March 31, 2025, and is payable on or about April 11, 2025.
The company’s board of directors also authorized an additional share repurchase program of $1.5 billion of the company’s common stock. The authorization is effective immediately and is additive to the previous $1.5 billion program authorized on November 3, 2023, which had $194 million remaining authorized and available for repurchase on December 31, 2024.
Since 2017, the company has repurchased $6.7 billion of its common stock, representing 41 percent of its outstanding shares, and has paid cash dividends of $1.7 billion through December 31, 2024. In the last five years, the company continued its meaningful strategic growth, investing $7.1 billion in capital investments and acquisitions, while maintaining a best-in-class, after-tax-return-on-invested capital of 24 percent.
“These actions reflect the Board’s and senior leadership’s confidence in the consistency and strength of our cash generation capabilities,” said Mark D. Millett, Co-founder, Chairman, and Chief Executive Officer. “We have consistently increased our cash dividend in alignment with our growth initiatives, while complementing it through our share repurchase program in periods of strong cash generation. Based on our strong capital foundation and consistent cash generation, we are able to execute organic and transactional strategic growth initiatives, while sustaining strong shareholder distributions and remaining committed to maintaining our investment grade credit ratings.”
Under the company’s share repurchase program, purchases take place as and when determined by the company in open-market or private transactions, including transactions that may be affected pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Pursuant to this program, purchases of shares of the company’s common stock, are made based upon the market price of the company’s common stock, the nature of other investment and growth opportunities, expected free cash flow, and general economic conditions. The share repurchase program does not require the company to acquire any specific number of shares and may be modified, suspended, extended or terminated by the company at any time without prior notice.
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