Nucor raises dividend for 50th consecutive year in 2022
On December 14, 2022, Dividend Aristocrat Nucor (trading symbol NUE) declared a $0.51 per share quarterly dividend, up 2% from the previous dividend of $0.50 per share. This marks exactly 50 consecutive years of dividend growth for the steel company.
Nucor surprised with a massive 23.5% dividend hike last year, marking 49 straight years of dividend growth. This new 2.0% dividend hike to 51 cents quarterly per share brings the track record to 50 consecutive years for Nucor, on of the official S&P500 Dividend Aristocrats. Nucor has paid a dividend to shareholders every year since 1973.
The increased NUE dividend is payable on February 10, 2023 to stockholders of record on December 30, 2022 and is Nucor's 199th consecutive quarterly cash dividend. The dividend yield for Nucor is 1.4% based on a stock price of $148 and the new annual dividend rate of $2.04 per share.
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler. Nucor has paid a dividend to shareholders every year since 1973.