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Kaiser Aluminum announces a 17 percent increase in quarterly dividend payment
Edited by : AL CIRCLE
1 min read
Kaiser Aluminum Corporation today announced that its Board of Directors has declared a quarterly cash dividend of $0.35 per share representing a 17% increase over the prior quarter's dividend. The dividend will be payable on February 14, 2014 to shareholders of record as of the close of business on January 24, 2014.
The Board of Directors has also authorized an additional $75 million for share repurchases. Including the additional $75 million authorization, as of January 10, 2014, the total available for future share repurchases under the program was $116 million.
"The increases in our quarterly dividend and share repurchase authorization underscore our confidence in the long-term growth outlook of our business," said Jack A. Hockema, President, CEO and Chairman. "Our prospects are excellent as we are well-positioned to capitalize on secular demand growth for aerospace and automotive applications. With strong cash flows and further growth potential from our existing platform, we are pleased to enhance returns to shareholders while continuing to maintain financial strength and flexibility to pursue other value-creating opportunities," stated Mr. Hockema.
The Board of Directors has also authorized an additional $75 million for share repurchases. Including the additional $75 million authorization, as of January 10, 2014, the total available for future share repurchases under the program was $116 million.
"The increases in our quarterly dividend and share repurchase authorization underscore our confidence in the long-term growth outlook of our business," said Jack A. Hockema, President, CEO and Chairman. "Our prospects are excellent as we are well-positioned to capitalize on secular demand growth for aerospace and automotive applications. With strong cash flows and further growth potential from our existing platform, we are pleased to enhance returns to shareholders while continuing to maintain financial strength and flexibility to pursue other value-creating opportunities," stated Mr. Hockema.
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