Materion Corporation Increases Quarterly Cash Dividend
04 May 2017 - 1:36AM
Business Wire
Materion Corporation (NYSE-MTRN) announced today that its Board
of Directors declared a second quarter 2017 dividend of $0.10 per
share of common stock, an increase of $0.005 per share, or
approximately 5%. The dividend is payable on June 2, 2017 to
shareholders of record at the close of business on May 17,
2017.
Jugal Vijayvargiya, President and CEO, stated, “The dividend
increase reflects our fifth consecutive annual increase and
continuing confidence in the strength of our business, its
prospects for long-term growth and our ability to generate cash
sufficient to continue to grow the business organically as well as
through acquisitions while returning cash to our shareholders.”
On an annualized basis, the amount of the dividend is $0.40 per
share and equates to a yield of approximately 1% based on the
Materion common stock price at the close of trading on May 1, 2017.
The dividend represents a quarterly cash payout of approximately
$2.0 million, or $7.9 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.
FORWARD-LOOKING
STATEMENTS
Portions of the narrative set forth in this document that are
not statements of historical or current facts are forward-looking
statements, in particular, the outlook provided above. Our actual
future performance may materially differ from that contemplated by
the forward-looking statements as a result of a variety of
factors.
These factors include, in addition to those mentioned elsewhere
herein:
- Actual net sales, operating rates, and
margins for 2017;
- Our ability to successfully complete
and effectively integrate the acquisition of the principal portion
of the high-performance target materials business of Heraeus;
- The global economy;
- The impact of any U.S. Federal
Government shutdowns and sequestrations;
- The condition of the markets which we
serve, whether defined geographically or by segment, with the major
market segments being: consumer electronics, industrial components,
defense, medical, automotive electronics, telecommunications
infrastructure, energy, commercial aerospace, and science;
- Changes in product mix and the
financial condition of customers;
- Our success in developing and
introducing new products and new product ramp-up rates;
- Our success in passing through the
costs of raw materials to customers or otherwise mitigating
fluctuating prices for those materials, including the impact of
fluctuating prices on inventory values;
- Our success in identifying acquisition
candidates and in acquiring and integrating such businesses;
- The impact of the results of
acquisitions on our ability to fully achieve the strategic and
financial objectives related to these acquisitions;
- Our success in implementing our
strategic plans and the timely and successful completion and
start-up of any capital projects;
- The availability of adequate lines of
credit and the associated interest rates;
- Other financial factors, including the
cost and availability of raw materials (both base and precious
metals), physical inventory valuations, metal financing fees, tax
rates, exchange rates, pension costs and required cash
contributions and other employee benefit costs, energy costs,
regulatory compliance costs, the cost and availability of
insurance, and the impact of the Company’s stock price on the cost
of incentive compensation plans;
- The uncertainties related to the impact
of war, terrorist activities, and acts of God;
- Changes in government regulatory
requirements and the enactment of new legislation that impacts our
obligations and operations;
- The conclusion of pending litigation
matters in accordance with our expectation that there will be no
material adverse effects;
- The success of the realignment of our
businesses;
- Our ability to strengthen our internal
control over financial reporting and disclosure controls and
procedures; and
- The risk factors as set forth in Item
1A of our Form 10-K for the year ended December 31, 2016.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170503006055/en/
Materion CorporationInvestor
Contact:Stephen F. Shamrock,
216-383-6823stephen.shamrock@materion.comorMedia Contact:Patrick S. Carpenter,
216-383-6835patrick.carpenter@materion.comorhttp://www.materion.comMayfield
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