'We are optimistic that we'll see the bottom in Q2 and move out of that as we enter the third and fourth quarters,' Nucor CEO
Tuesday that the steel producer will continue paying dividends, despite falling steel prices and the cloudy predicament facing the U.S. economy." interview that low-cost producers can find success and that Nucor will commit to its tradition of sharing its earnings with stockholders.
Nucor, one of the largest steelmakers in America, has paid out and increased its base dividend for nearly five decades, executives said on an earnings call Tuesday. The Charlotte-based manufacturer has been a public entity since 1972. Demand for steel has fallen in recent months and the going price for the construction material has declined along with it. In its earnings report for the first quarter, Nucor printed a top- and bottom-line beat. Revenue, however, was down 7.7% when compared to the same three-month period in 2019.
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