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Materion Corporation Increases Quarterly Cash Dividend

MAYFIELD HEIGHTS, Ohio, May 04, 2016 (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.

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