Steel Dynamics Shareholders Elect Board, Ratify Auditors

Steel Dynamics Inc. (NASDAQ:STLD), a leader in the steel production and metal recycling industries with a market capitalization of $19.1 billion, announced the results of its Annual Meeting of Shareholders which took place on Monday. The company, which has maintained a strong financial health score of "GOOD" according to InvestingPro analysis, demonstrates consistent shareholder value creation through its 22-year track record of dividend payments. The gathering saw the election of nine directors, the ratification of Ernst & Young LLP as auditors for the fiscal year ending December 31, 2025, the approval of executive compensation for 2024, and the rejection of a proposal for special shareholder meeting improvements.

The Fort Wayne, Indiana-based company reported a strong shareholder turnout with approximately 88.92% of the total shares outstanding represented at the meeting. All nine Board of Directors nominees were elected to serve one-year terms. Votes for individual directors ranged from 116,472,117 to 123,837,536, with Mark D. Millett receiving the highest number of votes for. Management’s commitment to shareholder returns is evident through aggressive share buybacks and consistent dividend growth, with a current dividend yield of 1.56%.

In addition, shareholders ratified Ernst & Young LLP as the company’s independent registered public accounting firm with over 117 million votes in favor. The advisory vote on named executive officer compensation for 2024 passed with 114,802,317 votes supporting the motion.

A shareholder proposal seeking improvements to the process for calling special shareholder meetings did not pass, with 109,932,100 votes against the proposal.

The results of the voting reflect the shareholders’ support for the current management and strategic direction of the company. With the re-election of the board and the approval of executive compensation, Steel Dynamics continues to have the endorsement of its investors for its operational and financial strategies.

The company, incorporated in Indiana and with a fiscal year-end on December 31, has been a significant player in the steel industry, classified under the Steel Works, Blast Furnaces Rolling Mills (Coke Ovens) sector.

This report is based on information contained in a recent SEC filing.

In other recent news, Steel Dynamics Inc. reported a strong financial performance for the first quarter of 2025, exceeding Wall Street forecasts with an earnings per share (EPS) of $1.44, surpassing the predicted $1.41. The company also reported revenue of $4.37 billion, which was higher than the anticipated $4.16 billion. Steel Dynamics achieved record steel shipments of 3.5 million tonnes, with their steel mills operating at an impressive 89% utilization rate. Additionally, the company declared a quarterly cash dividend of $0.50 per common share for the second quarter of 2025.

Steel Dynamics is also expanding into aluminum operations, aiming to provide aluminum flat rolled products to various industries. The company expects positive EBITDA from its aluminum operations in the second half of 2025. Analysts noted a positive outlook for Steel Dynamics, with firms like Wolfe Research expressing optimism about the company’s future prospects. The company’s strategic focus on diversification and sustainability continues to drive its growth, as evidenced by its recent earnings and revenue performance.

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