MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--
Materion Corporation (NYSE:MTRN) announced today that its Board of
Directors declared a second quarter 2013 dividend of $0.08 per share of
common stock, an increase of $0.005 per share, or approximately 7%. The
dividend is payable on June 4, 2013 to shareholders of record at the
close of business on May 17, 2013.
On an annualized basis, the amount of the dividend is $0.32 per share
and equates to a yield of approximately 1.2% based on the Materion
common stock price at the close of trading on April 30, 2013. The
dividend represents a quarterly cash payout of approximately $1.7
million, or $6.7 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.
CHARIMAN'S COMMENTS
Richard J. Hipple, Chairman, President and CEO, stated, "The dividend
increase reflects our continuing confidence in the strength of our
business, its prospects for long-term growth and our ability to generate
cash sufficient to continue to grow the business organically as well as
through acquisitions while returning cash to our shareholders."
FORWARD-LOOKING STATEMENTS
Portions of the narrative set forth in this document that are not
statements of historical or current facts are forward-looking
statements, in particular the outlook provided above. Our actual future
performance may materially differ from that contemplated by the
forward-looking statements as a result of a variety of factors. These
factors include, in addition to those mentioned elsewhere herein:
-
Actual sales, operating rates and margins for 2013;
-
Uncertainties relating to the fourth quarter 2012 physical inventory
and possible theft at our Albuquerque facility, including (i) the
outcome of our investigations and (ii) the timing and amount, if any,
of any insurance proceeds that we might receive;
-
The global economy;
-
The condition of the markets which we serve, whether defined
geographically or by segment, with the major market segments being:
consumer electronics, industrial components and commercial aerospace,
defense and science, automotive electronics, medical, energy and
telecommunications infrastructure;
-
Changes in product mix and the financial condition of customers;
-
Our success in developing and introducing new products and new product
ramp-up rates;
-
Our success in passing through the costs of raw materials to customers
or otherwise mitigating fluctuating prices for those materials,
including the impact of fluctuating prices on inventory values;
-
Our success in integrating acquired businesses, including EIS Optics
Limited and Aerospace Metal Composites Limited;
-
Our success in completing the announced facility consolidations and
achieving the expected benefits;
-
Our success in implementing our strategic plans and the timely and
successful completion and start-up of any capital projects, including
the new primary beryllium facility in Elmore, Ohio;
-
The availability of adequate lines of credit and the associated
interest rates;
-
The impact of the results of acquisitions on our ability to achieve
fully the strategic and financial objectives related to these
acquisitions;
-
Other financial factors, including the cost and availability of raw
materials (both base and precious metals), physical inventory
valuations, metal financing fees, tax rates, exchange rates, pension
costs and required cash contributions and other employee benefit
costs, energy costs, regulatory compliance costs, the cost and
availability of insurance, and the impact of the Company's stock price
on the cost of incentive compensation plans;
-
The uncertainties related to the impact of war, terrorist activities
and acts of God;
-
Changes in government regulatory requirements and the enactment of new
legislation that impacts our obligations and operations;
-
The conclusion of pending litigation matters in accordance with our
expectation that there will be no material adverse effects;
-
The timing and ability to achieve further efficiencies and synergies
resulting from our name change and product line alignment under the
Materion name and Materion brand; and
-
The risk factors set forth in Part 1, Item 1A of our Annual Report on
Form 10-K for the year ended December 31, 2012.
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.
Materion Corporation
Investor Contact:
Michael
C. Hasychak, 216-383-6823
mike.hasychak@materion.com
or
Media
Contact:
Patrick S. Carpenter, 216-383-6835
patrick.carpenter@materion.com
http://www.materion.com
Mayfield
Hts-g
Source: Materion Corporation
News Provided by Acquire Media