Commercial Metals Raises Quarterly Dividend 11% to $0.20 Per Share
Commercial Metals Co., a steel producer and metal recycler, increased its quarterly dividend to $0.20 per share, marking an 11% rise from the previous $0.18 payment. The dividend represents the company's 246th consecutive quarterly payment.
Commercial Metals Co. (NYSE: CMC), a steel producer and metal recycler, declared a quarterly dividend of $0.20 per share, representing an 11% increase from its prior payment of $0.18 per share. The company's board approved the increase on March 25, 2026. Read more dividend announcements.
The dividend marks Commercial Metals' 246th consecutive quarterly payment, underscoring the company's long-standing commitment to shareholder returns. The payment will be distributed to stockholders of record as of April 6, 2026, with checks mailing on April 15, 2026.
| Dividend Details | Information |
|---|---|
| Amount | $0.20 per share |
| Previous Amount | $0.18 per share |
| Increase | 11% |
| Record Date | April 6, 2026 |
| Payment Date | April 15, 2026 |
Second Quarter Performance
The dividend increase comes as Commercial Metals reported second quarter fiscal 2026 adjusted earnings of $130.1 million, or $1.16 per diluted share, compared to adjusted earnings of $35.8 million, or $0.31 per diluted share, in the prior year period. The company excluded certain charges related to litigation and commodity hedge impacts from its adjusted figures.
As of February 28, 2026, Commercial Metals held cash, cash equivalents and restricted cash totaling $503.6 million, with available liquidity exceeding $1.7 billion. The company maintains a net leverage target below 2x following recent acquisitions of Foley and CP&P, which carried a combined purchase price of approximately $2.5 billion.
Capital Allocation Activity
During the second quarter, Commercial Metals repurchased 249,154 shares of common stock valued at $18.3 million in aggregate. As of February 28, 2026, $147.8 million remained available under the current share repurchase authorization.
The company's North America Steel Group saw average daily volumes of finished steel products remain virtually unchanged from the prior year period, though volumes decreased 8.2% sequentially in line with historical seasonal patterns. Downstream backlog volumes increased slightly compared to the prior year, reaching the highest level since the third quarter of fiscal 2023.
Commercial Metals expects fiscal 2026 capital expenditures of approximately $600 million, with spending projected to decline meaningfully upon completion of its Steel West Virginia project. The company has stated its goal to deleverage below 2x net leverage within 18 months of the recent acquisitions.