MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--Materion Corporation (NYSE-MTRN) announced today that its Board of Directors declared a second quarter 2021 dividend of $0.12 per share of common stock, an increase of $0.005 per share, or approximately 5%. The dividend is payable on June 11, 2021 to shareholders of record at the close of business on May 27, 2021.
Jugal Vijayvargiya, President and CEO, stated, “The dividend increase reflects our ninth consecutive annual increase, reflecting our strong financial position and commitment to providing long-term value for our shareholders while continuing to invest in business growth initiatives.”
On an annualized basis, the amount of the dividend is $0.48 per share and equates to a yield of approximately 1% based on the Materion common stock price at the close of trading on May 5, 2021. The dividend represents a quarterly cash payout of approximately $2.4 million, or $9.8 million on an annualized basis. Subject to a continuing strong capital position and a determination that cash dividends continue to be in the best interest of shareholders, Materion intends to pay a quarterly dividend on an ongoing basis.
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.