Nucor hikes dividend for 44th consecutive year

Nucor Corporation (NUE) will raise its dividend by 0.7%.

Dividend Aristocrat Nucor will raise the regular quarterly cash dividend on its common stock to $0.3775 per share, marking 44 consecutive years of dividend increases.

The increased cash dividend is payable on February 10, 2017, to stockholders of record on December 30, 2016, and is Nucor's 175th consecutive quarterly cash dividend.

Steel producer Nucor has increased its regular, or base, dividend for 44 consecutive years - every year since it first began paying dividends in 1973. The base quarterly dividend has more than tripled over the past ten years. Over this same period, Nucor has returned more than $6 billion in capital to its stockholders in the form of base dividends, supplemental dividends and share repurchases.

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The new annual dividend of $1.51 per share translates into an estimated dividend yield of 2.4% at Wednesday's $62.19 closing price.

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