IRVING, Texas, Dec. 20 /PRNewswire-FirstCall/ -- As announced October
24, 2007, the board of directors of Commercial Metals Company (NYSE: CMC)
has approved an increase in the regular quarterly cash dividend from 9 to
12 cents per share, an increase of 33-1/3%. This new rate is effective with
the regular quarterly cash dividend which has been declared and is to be
paid January 24, 2008 to shareholders of record January 10, 2008. This is
the 173rd consecutive quarterly cash dividend paid by Commercial Metals
Company.
CMC President and Chief Executive Officer Murray R. McClean said, "This
increase reflects CMC's confidence in our business prospects. Rewarding and
sustainable increases in our cash dividend rate, as evidenced by this
significant increase, are an important element of that continuing effort
and demonstrates our continuing aggressive focus on stockholder value."
This action represents CMC's fourth recent cash dividend increase. In
April 2006, CMC's dividend was increased 67%. Following CMC's two-for-one
stock dividend in May 2006 the cash dividend was again increased by 20% in
July 2006 and 50% in November 2006. As a result of these increases, the
cash dividend increased four fold over the past two years.
Commercial Metals Company and subsidiaries manufacture, recycle and
market steel and metal products, related materials and services through a
network including steel minimills, steel fabrication and processing plants,
construction-related product warehouses, a copper tube mill, metal
recycling facilities and marketing and distribution offices in the United
States and in strategic international markets.
SOURCE Commercial Metals Company
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Related links:
http://www.cmc.com
CONTACT:
Debbie Okle, Director, Public Relations of
Commercial Metals Company, +1-214-689-4354
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