Commercial Metals Company (NYSE:CMC) to Issue $0.20 Quarterly Dividend

Commercial Metals Company (NYSE:CMC) announced a quarterly dividend on Wednesday, June 24th. Shareholders of record on Monday, July 6th will be given a dividend of 0.20 per share by the basic materials company on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, July 6th.

Commercial Metals has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Commercial Metals has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $6.93 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 11.5%.

Commercial Metals Trading Up 0.4%

Shares of CMC stock traded up $0.25 during trading hours on Wednesday, reaching $71.39. The company’s stock had a trading volume of 1,671,251 shares, compared to its average volume of 1,184,290. The stock has a market capitalization of $7.92 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.42 and a beta of 1.50. Commercial Metals has a one year low of $48.14 and a one year high of $84.87. The firm’s fifty day simple moving average is $71.70 and its 200 day simple moving average is $71.19. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Commercial Metals’s revenue was up 21.5% compared to the same quarter last year. Equities research analysts expect that Commercial Metals will post 6.56 EPS for the current year.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.