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Kaiser Aluminum raises quarterly dividend 4.2%
Edited by : AL CIRCLE
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Kaiser Aluminum Corp. KALU -0.04% said it would raise its quarterly dividend 4.2% as the maker of specialty aluminum products looks to return value to shareholders.
Kaiser Aluminum said the increased payout reflects the board's confidence in the company's financial strength and long-term earnings potential derived from continued growth in aerospace and automotive demand as well as future benefits from its investments.
The company raised its dividend by a penny to 25 cents a share. The increase will cost Kaiser Aluminum approximately an additional $772,000 a year.
In October, the company said its third-quarter earnings fell 20%, though revenue increased.
Shares closed at $49.40 Thursday and were inactive premarket. The stock is up 7.5% in the past three months.
Kaiser Aluminum said the increased payout reflects the board's confidence in the company's financial strength and long-term earnings potential derived from continued growth in aerospace and automotive demand as well as future benefits from its investments.
The company raised its dividend by a penny to 25 cents a share. The increase will cost Kaiser Aluminum approximately an additional $772,000 a year.
In October, the company said its third-quarter earnings fell 20%, though revenue increased.
Shares closed at $49.40 Thursday and were inactive premarket. The stock is up 7.5% in the past three months.
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