Materion Corporation Increases Quarterly Cash Dividend
14 May 2020 - 10:11PM
Business Wire
Materion Corporation (NYSE-MTRN) announced today that its Board
of Directors declared a second quarter 2020 dividend of $0.115 per
share of common stock, an increase of $0.005 per share, or
approximately 5%. The dividend is payable on June 10, 2020 to
shareholders of record at the close of business on May 29,
2020.
Jugal Vijayvargiya, President and CEO, stated, “The dividend
increase reflects our eighth 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 shareholders.”
On an annualized basis, the amount of the dividend is $0.46 per
share and equates to a yield of approximately 1% based on the
Materion common stock price at the close of trading on May 13,
2020. The dividend represents a quarterly cash payout of
approximately $2.3 million, or $9.3 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. 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 2020;
- The global economy, including the impact of tariffs and trade
agreements;
- The ultimate impact of the COVID-19 pandemic on our business,
results of operations, financial condition, and liquidity;
- 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:
semiconductor, industrial, aerospace and defense, automotive,
energy, consumer electronics, and telecom and data center;
- 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;
- Other financial and economic factors, including the cost and
availability of raw materials (both base and precious metals),
physical inventory valuations, metal financing fees, tax rates,
exchange rates, interest rates, pension costs and required cash
contributions and other employee benefit costs, energy costs,
regulatory compliance costs, the cost and availability of
insurance, credit availability, 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;
- Our ability to successfully complete the disposition of our LAC
business;
- The disruptions on operations from, and other effects of,
catastrophic and other extraordinary events including the COVID-19
pandemic; and
- The risk factors as set forth in Item 1A of our 2019 Annual
Report on Form 10-K.
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: https://www.businesswire.com/news/home/20200514005474/en/
Investors: Stephen F. Shamrock (216) 383-4010
stephen.shamrock@materion.com Media: John G. McCloskey (216)
383-6835 john.mccloskey@materion.com https://materion.com Mayfield
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