Warrior Met Coal Announces 17% Increase in Regular Quarterly Cash Dividend

Rhea-AI Summary

Warrior Met Coal, Inc. (NYSE:HCC) announced a 17% increase in its quarterly cash dividend, raising it to $0.07 per share. This decision was approved by the board of directors on February 9, 2023, and the dividend will be payable on February 27, 2023, to stockholders of record by the close of business on February 20, 2023. Warrior is a U.S.-based supplier of metallurgical coal, primarily used in steel production, focusing on environmentally sustainable mining practices. The company leverages its low-cost production capabilities and premium-quality coal to meet global demands, particularly in Europe, South America, and Asia.

Positive

• 17% increase in quarterly cash dividend to $0.07 per share.
• Strong demand for metallurgical coal in global steel industry.
• High-quality HCC production leading to competitive pricing.

Negative

• None.

BROOKWOOD, Ala.--(BUSINESS WIRE)-- Warrior Met Coal, Inc. (NYSE:HCC) (“Warrior” or the “Company”) today announced that its board of directors has approved an increase in the regular quarterly cash dividend by 17%. The board of directors declared on February 9, 2023, a regular quarterly cash dividend of $0.07 per share to be paid on February 27, 2023, to stockholders of record as of the close of business on February 20, 2023.

About Warrior

Warrior is a U.S.-based, environmentally, and socially minded supplier to the global steel industry. It is dedicated entirely to mining non-thermal metallurgical (met) coal used as a critical component of steel production by metal manufacturers in Europe, South America, and Asia. Warrior is a large-scale, low-cost producer and exporter of premium met coal, also known as hard coking coal (“HCC”), operating highly efficient longwall operations in its underground mines based in Alabama. The HCC that Warrior produces from the Blue Creek coal seam contains very low sulfur, has strong coking properties and is of a similar quality to coal referred to as the premium HCC produced in Australia. The premium nature of Warrior’s HCC makes it ideally suited as a base feed coal for steel makers and results in price realizations near the Platts Premium LV FOB Index price. For more information, please visit www.warriormetcoal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005060/en/

For Investors:

Dale W. Boyles, 205-554-6129

dale.boyles@warriormetcoal.com

For Media:

D’Andre Wright, 205-554-6131

dandre.wright@warriormetcoal.com

Source: Warrior Met Coal, Inc.

FAQ

What is the new dividend amount for HCC?

The new quarterly cash dividend for Warrior Met Coal (HCC) is $0.07 per share.

When will the HCC dividend be paid?

The dividend will be paid on February 27, 2023.

Who is eligible for the HCC dividend?

Stockholders of record as of February 20, 2023, are eligible for the dividend.

What is the significance of HCC's dividend increase?

The 17% increase in dividend reflects strong company performance and commitment to returning value to shareholders.