Martin Marietta Materials (NYSE:MLM) has chosen to stay on the road of its existing dividend policy. The company has declared its latest distribution, which is to be $0.40 per share paid on Sept. 30 to shareholders of record as of Sept. 3. That amount is in line with all of the company's preceding payouts stretching back to September 2008.
The just-declared dividend annualizes to $1.60 per share. That yields 1.6% at Martin Marietta Materials' most recent closing stock price of $97.28.
The dividend announcement comes several weeks after the company reported a disappointing Q2, in which it missed estimates on both revenues and bottom line.
Fool contributor Eric Volkman has no position in Martin Marietta 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.