Martin Marietta Materials said it raised its quarterly dividend by 1%, to 84 cents a share, from 83 cents a share.
The new payout, equal to $3.36 a share on an annualized basis, represents an annual yield of about 0.6% based on Thursday's closing price of $544.76.
Chief Executive Ward Nye said the increase reflects the company's disciplined approach to capital allocation, strong cash-flow generation and confidence in its ability to perform through economic cycles.
The dividend is payable to shareholders of record as of Sept. 1 on Sept. 30.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.