Steel Dynamics To Additionally Buy Back $1.5 Bln Of Shares

(RTTNews) - Steel Dynamics, Inc. (STLD), a steel producer and metals recycler, said on Friday that its board has authorized an additional share repurchase of $1.5 billion with immediate effect.

It adds to the previous $1.5 billion program, which had $278 million remaining authorized and available for repurchase on September 30, 2023.

Since 2017, Steel Dynamics has repurchased $5.2 billion of its shares, representing 36 percent of shares.

In addition, for the fourth-quarter, the company has declared a cash dividend of $0.425 per share, to be paid on January 16, 2024, to shareholders of record on December 31, 2023.