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NACCO Industries announced an increase in its quarterly cash dividend from 21.75 cents to 22.75 cents per share, payable to both Class A and Class B Common Stock holders. The new dividend, representing an annual rate of $0.91 per share, will be paid on June 17, 2024, to shareholders of record by the close of business on May 31, 2024.
NACCO Industries announced their first-quarter results for 2024, showing a 162% increase in operating profit, a 28% increase in income before taxes, and a decrease in net income due to higher income tax expenses. The company repurchased shares and maintained a conservative capital structure. The Coal Mining segment saw a decline in revenues and operating results, while the North American Mining segment experienced significant growth. The Minerals Management segment showed increased revenue and profit. The company expects improved results in 2024, focusing on growth and diversification.