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RALEIGH - Martin Marietta Materials, Inc. (NYSE:MLM), a building materials company with a market capitalization of $36.94 billion, announced Thursday that its Board of Directors has approved a 5 percent increase in its quarterly cash dividend, raising it from $0.79 to $0.83 per share on the company’s outstanding common stock. The company currently offers a dividend yield of 0.51%.
The dividend will be payable September 30, 2025, to shareholders of record at the close of business on September 2, 2025. On an annualized basis, this represents a cash dividend of $3.32 per share.
This marks the building materials supplier’s tenth consecutive annual dividend increase, according to a company press release statement.
"This achievement reflects the resilience of our aggregates-led business model, the excellence of our operational execution and the strength of our financial position and free cash flow generation," said Ward Nye, Chair, President and Chief Executive Officer of Martin Marietta.
Martin Marietta, a member of the S&P 500 Index, supplies building materials including aggregates, cement, ready mixed concrete and asphalt through operations spanning 28 states, Canada and The Bahamas. The company also operates a Magnesia Specialties business that provides magnesia and dolomitic lime products for environmental, industrial, agricultural and specialty applications.
In other recent news, Martin Marietta Materials reported its second-quarter 2025 earnings, revealing a mixed performance. The company exceeded earnings per share (EPS) expectations, with $5.43 compared to the projected $5.35. However, it fell short on revenue, posting $1.81 billion against an anticipated $1.89 billion. This period saw Martin Marietta facing weather-related challenges, yet it achieved a 10% year-over-year increase in aggregates gross profit per ton due to favorable pricing dynamics.
Additionally, Martin Marietta announced an asset exchange with Quikrete, acquiring aggregate operations with a 20 million tons capacity and $450 million in cash while transferring its cement and ready-mix concrete operations in North Texas to Quikrete. Analysts have responded to these developments with several price target adjustments. Stifel raised its price target to $637, maintaining a Buy rating, while Jefferies increased its target to $700, also maintaining a Buy rating, citing the potential from the asset exchange. Meanwhile, RBC Capital raised its target to $525, noting the strong quarterly performance despite external challenges.
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