Mueller Industries, Inc. (NYSE: NYSE:MLI), an international industrial corporation with operations spanning North America, Europe, Asia, and the Middle East, has announced a quarterly cash dividend of 15 cents per share on its common stock. The dividend will be paid on December 15, 2023 to shareholders registered by December 1, 2023.
The Memphis-based company manufactures goods for various sectors including air and water distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. These goods are produced using raw materials and energy.
Alongside this announcement, Mueller Industries issued forward-looking statements in its SEC filings. These statements take into account factors such as economic conditions, availability of raw materials and energy, fluctuations in market demand, pricing dynamics, technological competition and financing availability. The company has cautioned against placing undue reliance on these forward-looking statements.
InvestingPro Insights
InvestingPro's real-time data and tips offer valuable insights into Mueller Industries' financial health and future prospects. With a market capitalization of $4500M, a low P/E ratio of 7.17, and a return on assets of 26.42% for the last twelve months as of Q3 2023, the company showcases strong financial standing.
InvestingPro tips highlight that Mueller Industries yields a high return on invested capital and holds more cash than debt on its balance sheet. The company's strong earnings are expected to allow management to continue dividend payments, which have been maintained for 20 consecutive years. Additionally, the company has been profitable over the last twelve months and has demonstrated a strong return over the last five years.
InvestingPro offers a wealth of additional tips and data on Mueller Industries, providing a comprehensive resource for investors seeking to understand the company's financial performance and potential.
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