MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--
Materion Corporation (NYSE-MTRN) announced today that its Board of
Directors declared a second quarter 2016 dividend of $0.095 per share of
common stock, an increase of $0.005 per share, or approximately 6%. The
dividend is payable on June 1, 2016 to shareholders of record at the
close of business on May 18, 2016.
Richard J. Hipple, Chairman, President and CEO, stated, "The dividend
increase reflects our fourth consecutive annual increase and 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."
On an annualized basis, the amount of the dividend is $0.38 per share
and equates to a yield of approximately 1% based on the Materion common
stock price at the close of trading on May 3, 2016. The dividend
represents a quarterly cash payout of approximately $1.9 million, or
$7.6 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.
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 net sales, operating rates and margins for 2016;
-
Our ability to strengthen our internal control over financial
reporting and disclosure controls and procedures;
-
The global economy;
-
The impact of any U.S. Federal Government shutdowns and sequestrations;
-
The condition of the markets which we serve, whether defined
geographically or by segment, with the major market segments being:
consumer electronics, industrial components, medical, automotive
electronics, defense, telecommunications infrastructure, energy,
commercial aerospace and science;
-
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 identifying acquisition candidates and in acquiring and
integrating such businesses;
-
The impact of the results of acquisitions on our ability to fully
achieve the strategic and financial objectives related to these
acquisitions;
-
Our success in implementing our strategic plans and the timely and
successful completion and start-up of any capital projects;
-
The availability of adequate lines of credit and the associated
interest rates;
-
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;
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The conclusion of pending litigation matters in accordance with our
expectation that there will be no material adverse effects;
-
The success of the realignment of our businesses; and
-
The risk factors as set forth in Item 1A of our Form 10-K for the year
ended December 31, 2015.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160504006240/en/
Materion Corporation
Investors:
Michael
C. Hasychak, 216-383-6823
mike.hasychak@materion.com
or
Media:
Patrick
S. Carpenter, 216-383-6835
patrick.carpenter@materion.com
or
http://www.materion.com
Mayfield
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Source: Materion Corporation
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