Vulcan Materials hikes dividend by 8.8%

Vulcan Materials Company (VMC) will raise its quarterly dividend by 8.8 percent to 37 cents per share in 2021. This comes after a dividend hike of  9.7 percent to $0.34 per share in 2020. 2021 will mark the 8th year of increased dividends by VMC.

The next dividend will be payable on March 15, 2021, to shareholders of record at the close of business on March 1, 2021. A new annual dividend rate of $1.48 per share yields 0.8% at a stock price of $175.

Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The company's aggregates are used in most types of construction with materials used to build roads, tunnels, bridges, railroads and airports. The company produces and sells asphalt mix in Arizona, California, New Mexico and Texas. Vulcan produces and sells ready-mixed concrete in Georgia, Maryland, New Mexico, Texas, Virginia, Washington District of Columbia and the Bahamas. The Calcium segment consists of a Florida facility that mines, produces and sells calcium products.