Steel Dynamics Authorizes Another $3 Billion For Buybacks Alongside Its Quarterly Dividend
The previous $1.5 billion repurchase program had $216 million left at September 30; the board also declared $0.53 a share.
Steel Dynamics, which makes steel and aluminum products and recycles metals, authorized another $3 billion for share buybacks Monday, according to an SEC filing Tuesday. The additional authority took effect immediately, supplementing a $1.5 billion program that had $216 million available at September 30.
Buybacks Already Account For $8.2 Billion
Steel Dynamics spent $8.2 billion repurchasing common stock from 2017 through September 30, 2026. The company put those purchases at the equivalent of 45% of its outstanding shares, with another $2.2 billion paid in cash dividends over that period.
The board also declared a $0.53 quarterly dividend per common share. STLD shares rose about 3% to $234.93 in Tuesday trading.
Purchases Compete With Growth Investments
The authorization permits spending rather than committing Steel Dynamics to buy a set number of shares. Management will weigh investment and growth opportunities, the stock price, expected free cash flow and economic conditions when deciding on purchases.
Steel Dynamics can buy shares privately or in the open market, including through pre-scheduled trading plans. It can also change, pause, extend or end the program at any point without advance notice.
Chairman and CEO Mark D. Millett described internal expansion and strategic acquisitions as priorities alongside shareholder payouts and preserving investment-grade credit ratings. He said, "we are well positioned to grow while continuing to return value to our shareholders".
Steel Remains The Business Anchor
Steel operations accounted for 72% of consolidated net sales in 2025. Steel Dynamics operates facilities in the United States and Mexico, using electric arc furnaces to turn recycled scrap into steel. It serves construction, automotive, manufacturing, transportation, energy and pipe customers.
The business also makes steel joists and decking, processes ferrous and nonferrous scrap, and supplies recycled aluminum flat-rolled products. Its aluminum operations serve beverage-can, automotive and industrial customers.
As of December 31, 2025, Steel Dynamics had approximately 16 million tons of estimated steelmaking and coating capacity and about 14,400 full-time employees.
The dividend is scheduled for payment on or about January 8, 2027, to shareholders of record at the close of business December 31, 2026.
Sources
- 8-K Filing — STEEL DYNAMICS INC (STLD) — SEC EDGAR
- Exhibit tm2629447d1_ex99-1.htm — STEEL DYNAMICS INC 8-K exhibit — SEC EDGAR
- Steel Dynamics adds $3B to share repurchase program (STLD:NASDAQ) | Seeking Alpha — seekingalpha.com
- Steel Dynamics Announces Additional $3.0 Billion Share Repurchase Authorization and Fourth Quarter 2026 Cash Dividend — prnewswire.com
