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CLEVELAND - NACCO Industries (NYSE: NC), a company involved in the natural resources sector, has announced a regular cash dividend of 22.75 cents per share, applicable to both Class A and Class B Common Stock. With a current dividend yield of 2.82%, the company has maintained dividend payments for 54 consecutive years, according to InvestingPro data. The dividend will be distributed on March 17, 2025, to shareholders who are on record as of the close of business on March 3, 2025.
This declaration by the Board of Directors continues NACCO Industries’ practice of returning value to its shareholders through regular dividend payments, with the company having raised its dividend for six consecutive years. The company’s operations span across the delivery of aggregates, minerals, reliable fuels, and environmental solutions. With a market capitalization of $236 million and a strong current ratio of 3.76, NACCO Industries has established itself in the natural resources market through a diverse portfolio managed by its NACCO Natural Resources businesses.
The company’s commitment to shareholder returns is reflected in the consistent payment of dividends. As a player in the natural resources industry, NACCO Industries focuses on leveraging its resources to provide essential materials and services. The dividend payout is part of the company’s financial strategy, designed to provide ongoing value to its investors.
Shareholders can expect the upcoming dividend to be paid in mid-March, with the record date set at the beginning of the month. The announcement is based on a press release statement from NACCO Industries.
In other recent news, NACCO Industries has made several notable changes concerning its executive compensation and retirement plans. The company has amended the consulting agreement with its Chairman, Alfred M. Rankin Jr., reducing his annual consulting fees from $200,000 to $100,000. This amendment, disclosed in an SEC filing, reflects a significant change in the compensation structure for Mr. Rankin, who remains in his role as Chairman of the Board of Directors. Additionally, NACCO Industries has announced an update to its executive compensation framework with the introduction of The NACCO Natural Resources Corporation Excess Retirement Plan, effective January 1, 2025. This new plan is designed to provide retirement benefits that align more closely with the company’s qualified defined contribution retirement plan, addressing limitations for highly compensated employees. The Excess Plan will now include short-term incentive payments in its compensation definition, which marks a departure from the previous North American Coal Corporation Excess Retirement Plan. These updates underscore NACCO’s commitment to competitive compensation packages aimed at attracting and retaining top talent. The details of these changes were outlined in the company’s recent SEC filings and official statements.
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