LISLE, Ill. - SunCoke Energy, Inc. (NYSE: SXC), a company specializing in the production of coke used in steel and iron manufacturing, has declared a quarterly cash dividend. The company's Board of Directors announced today that a dividend of $0.10 per share will be paid to shareholders. The payment is scheduled for June 3, 2024, with stockholders on record as of the close of business on May 15, 2024, being eligible for the dividend.
The declared dividend reflects the company's ongoing commitment to delivering value to its shareholders. SunCoke Energy operates coke-making facilities in Illinois, Indiana, Ohio, Virginia, and Brazil, employing heat-recovery technology that also allows for steam or electrical power generation. This innovation is part of the company's more than six decades of experience in the coke-making industry.
In addition to its coke-making operations, SunCoke Energy has a logistics business that handles the export and domestic transportation of coke, coal, steel, power, and other bulk materials. Their terminals, which are capable of transloading more than 40 million tons of material annually, are strategically positioned to serve Gulf Coast, East Coast, Great Lakes, and international ports.
The information in this article is based on a press release.
InvestingPro Insights
SunCoke Energy, Inc. (NYSE: SXC) continues to demonstrate its commitment to shareholder returns, not just through dividends but also by maintaining a strong financial performance. With a market capitalization of $866.82 million, the company's valuation is bolstered by a price-to-earnings (P/E) ratio of 15.08, reflecting the market's confidence in its earnings potential. The company's dividend yield stands at an attractive 3.88%, a testament to its dedication to providing consistent shareholder value.
Two significant InvestingPro Tips highlight the investment appeal of SunCoke Energy. First, the company's valuation implies a strong free cash flow yield, suggesting that it's generating a healthy amount of cash relative to its share price. Second, analysts are optimistic about the company's prospects, predicting profitability for the current year. This is supported by the company's performance over the last twelve months, during which it has been profitable. These insights underscore the potential for SunCoke Energy to continue its track record of financial stability and shareholder friendliness.
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