Nucor Inc. said Wednesday it will raise its quarterly dividend by one-quarter cent, or 0.7%, to 37.75 cents a share. The new dividend will be payable Feb. 10 to shareholders of record on Dec. 30. Nucor said it has increased its dividend every years since it started paying dividends in 1973. This marks the seventh-straight year that it has raised its quarterly dividend by 1/4-cent, following a 1-cent rise the year before. Based on current share prices, the steel company’s new implied annual dividend yield is 2.42%, compared with the aggregate S&P 500 dividend yield of 2.11%, according to FactSet. The stock climbed 1.4% to trade just shy of its eight-year closing high of $62.85 on Friday. It has run up 22% since the election and 55% so far this year, while the S&P 500 has gained 8.1% year to date.
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