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BIRMINGHAM, Ala. – Vulcan Materials Company (NYSE:VMC), the nation's leading producer of construction aggregates and a $35.65 billion market cap company, has announced an increase in its quarterly cash dividend. Shareholders will receive a dividend of $0.49 per share, payable on March 24, 2025, to those on record as of March 10, 2025. This marks a 7 percent rise from the previous dividend of $0.46 per share, bringing the dividend yield to 0.68%.
Tom Hill, Chairman and Chief Executive Officer of Vulcan, expressed confidence in the company's performance and its continuous dividend growth. According to InvestingPro data, Vulcan has actually maintained dividend payments for 54 consecutive years and raised them for 11 straight years. The dividend hike is attributed to Vulcan's robust business model, strong cash flow, financial stability (with a healthy current ratio of 2.86), and commitment to delivering shareholder value.
Vulcan Materials, a component of the S&P 500 Index, is headquartered in Birmingham, Alabama. As the largest producer of construction aggregates in the United States, Vulcan specializes in crushed stone, sand, and gravel. The company also produces asphalt and ready-mixed concrete, key materials in construction.
The increase in dividend reflects Vulcan's favorable outlook and is part of the company's strategy to enhance shareholder returns. The information is based on a press release statement from Vulcan Materials Company.
In other recent news, Vulcan Materials Company has issued $2 billion in senior notes. The issuance comprises $500 million aggregate principal amount of 4.950% Senior Notes due 2029, $750 million aggregate principal amount of 5.350% Senior Notes due 2034, and $750 million aggregate principal amount of 5.700% Senior Notes due 2054. The underwriting agreement was outlined between Vulcan Materials and a syndicate of banks, including Truist Securities, Inc., Wells Fargo (NYSE:WFC) Securities, LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, and U.S. Bancorp (BVMF:USBC34) Investments, Inc. Regions Bank will serve as the trustee for the newly issued notes. The legal opinion regarding the issuance was provided by Womble Bond Dickinson (US) LLP. The proceeds from the sale of these notes, typically used for corporate purposes, are not specified in the filing. These are recent developments in the company's financial activities.
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