RALEIGH, N.C. - Martin Marietta Materials, Inc. (NYSE:MLM), a leading supplier of building materials, has declared a regular quarterly cash dividend of $0.74 per share. The dividend is payable on March 28, 2024, to shareholders of record as of March 4, 2024.
This announcement comes as the company continues to maintain its presence in the S&P 500 Index, with operations across 28 states, Canada, and The Bahamas. Martin Marietta is known for providing aggregates, cement, ready mixed concrete, asphalt, and magnesia products that are essential for construction and infrastructure projects.
The annualized dividend rate will be $2.96 per share, which is part of the company's ongoing shareholder return strategy. Martin Marietta's Magnesia Specialties business, in particular, is recognized for producing high-purity magnesia and dolomitic lime products that have a variety of uses in environmental, industrial, agricultural, and specialty applications.
Investors and those interested in the company's financial strategies may note this dividend declaration as a continuation of Martin Marietta's commitment to providing value to its shareholders. The company's broad network and diverse product offerings have positioned it as a key player in the building materials industry.
For more information on Martin Marietta's operations and products, interested parties can visit the company's websites. This dividend declaration is based on a press release statement issued by Martin Marietta Materials, Inc.
InvestingPro Insights
Martin Marietta Materials, Inc. (NYSE:MLM) has recently announced its regular quarterly dividend, showcasing its stability and commitment to shareholders. Here are some insights from InvestingPro that may interest investors considering the company's financial health and market performance.
InvestingPro Data shows a robust revenue growth for the company, with the last twelve months as of Q4 2023 revealing an 18.27% increase in revenue, reaching $6.78 billion. This growth is complemented by a healthy gross profit margin of 29.84%, indicating efficient operations and a strong ability to convert sales into profit.
The company's stock has been performing well in the market, with a three-month price total return of 16.07%, reflecting investor confidence and a positive outlook. Additionally, Martin Marietta has a strong track record of dividend payments, having maintained them for 30 consecutive years, and has raised its dividend for 8 consecutive years, as highlighted by two of the InvestingPro Tips.
For investors looking for more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/MLM. These tips provide deeper insights into the company's financial health and market position, such as its perfect Piotroski Score of 9 and its operation with a moderate level of debt, which could be crucial for making informed investment decisions.
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