Vulcan Materials (NYSE:VMC) has elected to maintain its dividend. The company declared a quarterly common stock distribution of $0.01 per share, to be paid on Sept. 10 to shareholders of record as of Aug. 28. That amount matches each of the company's disbursements stretching back to December 2011.
Vulcan Materials has been a regular dividend payer, although its distribution has fallen steeply over the past five years. The company cut it from $0.49 to $0.25 per share with the September 2009 payout and two years later sliced it to the present level.
The just-declared dividend annualizes to $0.04 per share. That yields 0.1% at Vulcan Materials' most recent closing stock price of $50.68.
Fool contributor Eric Volkman has no position in Vulcan Materials. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.