Steel Dynamics Announces Second Quarter 2021 Cash Dividend
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FORT WAYNE, Ind., May 20, 2021 /PRNewswire/ Steel Dynamics, Inc. (NASDAQ/GS: STLD) today announced that the company s board of directors has declared a quarterly cash dividend of $0.26 per common share. The dividend is payable to shareholders of record at the close of business on June 30, 2021 and is payable on or about July 16, 2021.
About Steel Dynamics, Inc.
Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and
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We can use the VanEck Vectors Steel ETF (NYSEARCA: SLX) as a proxy for industrywide performance. The ETF, which tracks the NYSEARCA Steel Index. The ETF is up 29.31% year-to-date and 84.25% over the past year, although it’s down 3.66% for the month of May.
However, global manufacturing overcapacity is a hurdle.
In recent years, a growing number of tariffs and steel industry restrictions reduced imports from overseas producers into the U.S. The pandemic complicated the issue, with steel producers’ customers temporarily closed their factories or drastically reduced capacity.
However, demand for goods bounced back much faster than many had expected back in the spring of 2020, meaning steel producers faced high demand, while global supply chains are still struggling.
Tuesday, May 18, 2021
Mark Millett co-founded Steel Dynamics in 1993 and has been instrumental in building the company from its inception to its current status as one of the nation’s largest and fastest growing steel producers and metals recyclers. Steel Dynamics President and Chief Executive Mark Millett will be awarded a Doctor of Engineering honorary degree during Rose-Hulman’s in-person, outdoor Commencement on campus May 29.
Millett co-founded Steel Dynamics in 1993 and has been instrumental in building the company from its inception to its current status as one of the largest and fastest-growing steel producers and metals recyclers in the United States. The company’s operations include the Heartland Flat Roll Division in Terre Haute and its leadership team features several Rose-Hulman alumni.
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