The board of directors of steel products manufacturer Nucor (NYSE: NUE ) has announced the payment of a regular cash dividend of $0.3675 per share to stockholders of record on March 28. With the dividend payable on May 10, it marks the 160th consecutive quarterly dividend the steel company has paid. The dividend is the same amount that was paid in December.
Nucor has increased its base cash dividend every year since it began paying dividends in 1973. In 2005, in addition to raising the base dividend, the board of directors also implemented a supplemental dividend based on Nucor's strong performance, which continued until the fourth quarter of 2008, when the extra payment was halted. The base quarterly dividend has more than tripled since the end of 2007.
Nucor produces a variety of steel products including carbon and alloy steel; pilings, joists, and joist girders; fabricated concrete reinforcing steel; cold finished steel; and wire and wire mesh.