Nucor Approves 212th Dividend at $0.56, Unveils $4B Buyback
Nucor’s board approved a $0.56 per share quarterly dividend—its 212th consecutive payout—payable May 11 to shareholders of record March 31 and authorized a new $4.0B share repurchase program after repurchasing $3.69B since May 2023. Fourth‐quarter EPS came in at $1.73 versus $1.91 expected on revenue of $7.69B against $7.87B estimates.
1. Dividend Extension and Terms
The board approved a regular quarterly cash dividend of $0.56 per share, payable on May 11 to shareholders of record as of March 31, marking its 212th consecutive quarterly payment and underscoring the company’s commitment to returning cash to investors.
2. Share Repurchase Authorization
Nucor’s board authorized a new share repurchase program of up to $4.0 billion with no fixed end date, replacing the prior $4.0 billion authorization under which $3.69 billion of shares were repurchased since May 2023; future buybacks will depend on market conditions and legal requirements.
3. CFO Appointment
Jack Sullivan, formerly vice president and treasurer, will become chief financial officer effective March 1, succeeding Steve Laxton, and will oversee investor relations and financial strategy.
4. Fourth-Quarter Financial Results
In the quarter ended December 31, earnings per share were $1.73 versus analysts’ $1.91 forecast, while revenue rose 9% year over year to $7.69 billion but fell short of the $7.87 billion consensus estimate, as elevated costs weighed on margins.