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PITTSBURGH - Alcoa (NYSE:AA) Corporation (NYSE: AA; ASX: AAI), a prominent player in the production of bauxite, alumina, and aluminum products, has declared a quarterly cash dividend of $0.10 per share, representing an annual dividend yield of 1.11%. With a market capitalization of $9.4 billion, the company’s stock has delivered a 37% return over the past year. This dividend applies to both the company’s common stock and Series A convertible preferred stock. Eligible stockholders on record by March 4, 2025, will receive the payment on March 20, 2025.
The company, known for its significant contributions to the aluminum industry and its commitment to sustainable practices, continues to focus on enhancing shareholder value while maintaining its dedication to environmental stewardship and community engagement. According to InvestingPro analysis, Alcoa maintains a "Fair" overall financial health score, with particularly strong momentum metrics. The platform’s data indicates that net income is expected to grow this year, with analysts projecting profitability.
Alcoa’s approach to business is grounded in a set of core values that include integrity, operational excellence, and a focus on the well-being of its employees and the communities in which it operates. With a current ratio of 1.45 and revenue growth of 12.74% in the last twelve months, the organization prides itself on a history of innovation and the development of industry best practices that have led to improvements in efficiency, safety, and sustainability.
Stockholders of Alcoa can expect the company to continue communicating future developments and financial results through various channels, including its website, press releases, SEC filings, and other media outlets. However, it’s important to note that the information provided on the corporate website is not incorporated into this press release statement.
The announcement of the dividend is a direct reflection of Alcoa’s ongoing financial strategies and its commitment to returning value to its investors. As the company moves forward, it remains focused on reinventing the aluminum industry to align with its vision of a sustainable future.
This news is based on a press release statement from Alcoa Corporation.
In other recent news, Alcoa Corporation has reported robust financial results for the third quarter of 2024. The company exceeded earnings expectations with an earnings per share (EPS) of $1.04, surpassing the forecast of $0.93. Revenue also outperformed projections, reaching $3.49 billion compared to the anticipated $3.29 billion. Jefferies maintained a Buy rating on Alcoa, setting a price target of $45.00, following the company’s strong EBITDA performance of $677 million, which exceeded their projection of $624 million.
Additionally, Alcoa’s free cash flow significantly surpassed market expectations, coming in at $246 million. This performance marks the fifth consecutive quarter of EBITDA growth for the company. The firm emphasized the importance of Alcoa’s continued positive free cash flow, suggesting it could lead to a reduction in net debt and an increased valuation over the coming months. Meanwhile, the recent announcement of reinstated U.S. tariffs on steel and aluminum has been perceived as beneficial for domestic producers, including Alcoa, potentially reducing foreign competition.
In related developments, U.S. Steel saw a premarket surge following a potential proposal by Nippon Steel to acquire the company, adding to the positive sentiment in the industry. President Trump also hinted at introducing reciprocal tariffs targeting all countries, which could further impact the metal markets. These recent developments highlight the dynamic environment in which Alcoa operates, with significant implications for its future financial performance and market position.
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