Steel Dynamics reports extra $1.5 billion share repurchase authorization and the final quarter of 2023 cash dividend.

Steel Dynamics reports extra $1.5 billion share repurchase authorization and the final quarter of 2023 cash dividend. This company declared that the company's board of directors authorized an extra share repurchase program of $1.5 billion of the company's common stock. The authorization is effective soon and is additive to the previous $1.5 billion program, which had $278 million remaining authorized and accessible for repurchase on September 30, 2023. Since 2017, the company has repurchased $5.2 billion of its common stock, representing 36 percent of its outstanding shares, and has paid cash dividends of $1.4 billion through September 30, 2023. The company's board of directors likewise pronounced a quarterly cash dividend of $0.425 per common share. The dividend is payable to shareholders of record at the close of business on December 31, 2023, and is payable approximately January 16, 2024.