Martin Marietta boosts quarterly dividend to 79c from 74c per share

Martin Marietta Materials said its board approved a 7% increase in its quarterly cash dividend, raising it from 74c per share to 79c per share. This dividend, representing a cash dividend of $3.16 per share on an annualized basis, is payable September 30, to shareholders of record at the close of business on September 3. Ward Nye, CEO, stated, “Today’s announced dividend increase marks our ninth consecutive year of doing so, extending Martin Marietta’s long track record of delivering meaningful and sustainable dividends as a component of our balanced capital allocation priorities. Our durable, aggregates-led business model, disciplined commercial and operational practices and strong financial position allow the Company to prudently return capital to shareholders while continuing to invest in future growth opportunities to drive superior shareholder value for decades to come.”