Mueller Industries, Inc. Announces 20 Percent Increase in Quarterly Dividend

Rhea-AI Summary

Mueller Industries, Inc. (NYSE: MLI) has declared a quarterly cash dividend of $.30 per share, marking a 20% increase from 2022. This dividend will be paid on March 31, 2023 to stockholders on record by the close of business on March 17, 2023. This announcement continues a trend of double-digit dividend increases for the third consecutive year, reflecting the company's commitment to returning value to shareholders.

Positive

• Quarterly cash dividend increased by 20% compared to 2022.
• Dividend payout demonstrates strong company performance and shareholder value.

Negative

• None.

COLLIERVILLE, Tenn.--(BUSINESS WIRE)-- For the third consecutive year, Mueller Industries, Inc. (NYSE: MLI) has announced a double digit increase to its quarterly dividend.

The Board of Directors has declared a regular quarterly cash dividend of $.30 per share, to be paid on March 31, 2023 to stockholders of record as of the close of business on March 17, 2023. This represents a 20 percent increase over the 2022 quarterly dividend.

Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East.

Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company's SEC filings. The words "outlook," "estimate," "project," "intend," "expect," "believe," "target," "encourage," "anticipate," "appear," and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230220005275/en/

Jeffrey A. Martin

(901)753-3226

Source: Mueller Industries, Inc.

FAQ

What is the dividend amount for Mueller Industries (MLI) in 2023?

Mueller Industries (MLI) has declared a quarterly cash dividend of $.30 per share.

When will the dividend be paid to MLI shareholders?

The dividend will be paid on March 31, 2023, to stockholders of record as of March 17, 2023.

How much did the dividend increase for MLI compared to last year?

The dividend increased by 20% compared to the 2022 quarterly dividend.

Is Mueller Industries' dividend sustainable?

The sustainability of the dividend depends on various factors including market demand, pricing, and economic conditions.