×

Commercial Metals stock gains after dividend raised 17%, new $350 million stock buyback plan announced

Published Oct 13 2021 at 1:02 PM GMT
Key
Points
  • Shares of Commercial Metals Co tacked on 0 6% in premarket trading Wednesday, after the steel and metal products maker said it raised its dividend by 17% and announced a new $350 million stock repurchase program.
  • The company said its new quarterly dividend of 14 cents a share, up from 12 cents a share, will be payable Nov.
  • Based on Tuesday's stock closing price of $32.
  • 21, the new annual dividend rate implies a dividend yield of 1 74%, compared with the implied yield for the S&P 500 of 1 39%, according to FactSet.
  • The new stock buyback program replaces the existing plan which had $27 million remaining as of Aug.




Trending

Stats

  • Published Oct 13, 2021 1:02 PM GMT