Aristocrat Nucor (NUE) will raise its quarterly dividend to $0.3725 per share, marking the 42nd consecutive year of dividend increases for the steel maker.

Nucor has paid 167 consecutive cash dividends since it first started paying dividends in 1973. The dividend growth has slowed down the last couple of years, with increases of 0.7% annually since 2010. At a stock price of $55 the indicated dividend yield for Nucor is 2.7%.

Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada.  Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh.  Through The David J. Joseph Company, Nucor also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.