Martin Marietta Materials (MLM) will raise its quarterly dividend by 4.8 percent to $0.44 per share. This dividend, which represents a cash dividend of $1.76 per share on an annualized basis, is payable September 29, 2017, to shareholders of record at the close of business on September 5, 2017.

Ward Nye, Chairman and Chief Executive Officer stated, “We are dedicated to maintaining a disciplined capital allocation. As we have consistently indicated, our priorities for capital are valuable strategic acquisitions, organic investments, and returning cash to our shareholders through a meaningful and sustainable cash dividend and our share repurchase program. Consistent with this objective, we are pleased that our performance and outlook for future growth in earnings and cash generation has enabled us to once again increase our annual cash dividend. We believe this allows us to return value to our shareholders over the long term.”

Martin Marietta Materials, Inc. is a supplier of supplier of building materials, including aggregates, cement, ready mixed concrete and asphalt. Martin Marietta’s Magnesia Specialties business provides a full range of magnesium oxide, magnesium hydroxide and dolomitic lime products. The company has operations in the United States, Canada and The Bahamas. Martin Marietta has paid a dividend every year since it became a public company in 1994.