Reliance Inc Declares $1.25 Quarterly Dividend, 33rd Increase Since 1994 IPO

Reliance Inc, a metals service center company, declared a quarterly cash dividend of $1.25 per share on April 17, 2026, representing a 4.2% increase from the previous dividend of $1.20 per share. The dividend is payable June 5, 2026 to shareholders of record as of May 22, 2026. Read more dividend announcements.

The increase represents the 33rd dividend raise since the company's initial public offering in 1994. The new dividend level translates to an annualized rate of $5.00 per share.

Capital Allocation and Share Repurchases

Reliance returned approximately $301 million to stockholders in the first quarter of 2026, including $67 million in dividend payments and $234 million in share repurchases. The company bought back shares at an average price of approximately $299 per share during the quarter.

Share repurchase activity reduced outstanding common shares by 3% year-over-year. Since 2021, Reliance has repurchased $3.4 billion of its common stock at an average price of approximately $234 per share, cutting outstanding shares by 22%.

First Quarter Financial Performance

As of March 31, 2026, Reliance held $249.7 million in cash and cash equivalents against total debt of $1.7 billion, which included $550 million outstanding under its $1.5 billion revolving credit facility.

The company generated $151.4 million of cash flow from operations in the first quarter of 2026. The quarter reflected a typical seasonal working capital increase tied to strong shipment volume and higher metals pricing.

Government Contract Awards

Reliance's wholly owned subsidiary AMI secured two major U.S. government contracts in March 2026. The Department of Homeland Security awarded a multi-year contract with a maximum estimated value of up to $2.24 billion to provide steel and logistics support for Southwest border wall construction.

Phase 1 of the DHS project launched in April 2026 with estimated sales of approximately $1.4 billion and is expected to run through mid-2027. AMI also won a five-year contract to supply processed aluminum plate for Joint Strike Fighter defense platforms, including the F-35 Lightning II, with a maximum estimated value of $654 million effective January 2027 through December 2028.

Business Outlook

The company expects demand for automotive toll processing to remain relatively steady at healthy levels in the second quarter of 2026. Demand for certain products sold into the semiconductor market improved compared to the first quarter of 2025, with stable to improving demand anticipated for semiconductor products in the second quarter of 2026.