Mueller Industries Inc. said on Wednesday its board authorized a $3 special cash dividend on its common stock along with $5 in principal amount of the company’s 6% notes due 2027 for each share owned. The subordinated bonds will be callable, in whole or in part, at any time at the option of Mueller Industries, subject to declining call premiums during the first five years, according to a news release. Shares of Mueller Industries are up nearly 56% in the past 12 months, outperforming the S&P 500 Index , which is up 12%.
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