Materion Corporation Increases Quarterly Cash Dividend

Rhea-AI Summary

Materion Corporation (NYSE-MTRN) announced a second quarter 2021 dividend of $0.12 per share, a 5% increase from the prior dividend. This marks the company’s ninth consecutive annual increase, showcasing its robust financial standing and commitment to shareholder value. The dividend is slated for payment on June 11, 2021, to shareholders recorded by May 27, 2021. With an annualized yield of approximately 1%, this equates to a cash payout of around $2.4 million quarterly, reflecting ongoing confidence in its financial strength.

Positive

• 9th consecutive annual dividend increase.
• Dividend increase of $0.005 reflects strong financial position.
• Annualized dividend is $0.48 per share, equating to a yield of approximately 1%.

Negative

• None.

Materion Corporation (NYSE-MTRN) announced today that its Board of Directors declared a second quarter 2021 dividend of $0.12 per share of common stock, an increase of $0.005 per share, or approximately 5%. The dividend is payable on June 11, 2021 to shareholders of record at the close of business on May 27, 2021.

Jugal Vijayvargiya, President and CEO, stated, “The dividend increase reflects our ninth consecutive annual increase, reflecting our strong financial position and commitment to providing long-term value for our shareholders while continuing to invest in business growth initiatives.”

On an annualized basis, the amount of the dividend is $0.48 per share and equates to a yield of approximately 1% based on the Materion common stock price at the close of trading on May 5, 2021. The dividend represents a quarterly cash payout of approximately $2.4 million, or $9.8 million on an annualized basis. Subject to a continuing strong capital position and a determination that cash dividends continue to be in the best interest of shareholders, Materion intends to pay a quarterly dividend on an ongoing basis.

Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210506006120/en/

FAQ

What is the new dividend amount for Materion Corporation (MTRN)?

Materion Corporation has declared a new dividend of $0.12 per share.

When will the dividend be paid to shareholders of MTRN?

The dividend will be payable on June 11, 2021.

What is the annualized yield of the dividend for MTRN?

The annualized yield of the dividend is approximately 1%.

What was the previous dividend amount before the increase?

The previous dividend amount was $0.115 per share.

How long has Materion Corporation been increasing its dividends?

Materion Corporation has increased its dividends for nine consecutive years.