Kaiser Aluminum Corporation Announces a 7.5 Percent Increase in Quarterly Dividend Payment

By Benzinga13 days ago

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FOOTHILL RANCH, Calif., Jan. 14, 2021 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (NASDAQ:KALU) today announced that its Board of Directors has declared a quarterly cash dividend of $0.72 per share representing a 7.5% increase over the prior quarter's dividend. The dividend will be payable on February 12, 2021 to shareholders of record as of the close of business on January 25, 2021.

“The increase in the quarterly dividend reflects our continued confidence in the long-term outlook for our business, the end markets we serve and opportunities to create value for our shareholders,“ said Keith A. Harvey, President and CEO. “In addition, our planned acquisition of the Warrick Rolling Mill from Alcoa, provides excellent potential for further value creation with strong secular demand growth and due to the non-cyclic nature of the packaging business, more predictable earnings and cash flow.“

Company Description

Kaiser Aluminum Corporation, headquartered in Foothill Ranch, Calif., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company's North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that ...

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