Eagle Materials (EXP) will suspend its quarterly dividend in 2020 because of the COVID-19 pandemic. The company had been paying a quarterly dividend of 10 cents per share since 2009. That year the dividend was cut by 50.0 percent. The last dividend increase was announced in 2007 (+14.3 percent).

In its press release the company states that it will pay its dividend declared on February 10, 2020 and payable on May 8, 2020 to shareholders of record on April 13, 2020. Future quarterly cash dividends will be suspended for Eagle Materials.

Eagle Materials Inc. manufactures and distributes Portland Cement, Gypsum Wallboard and Recycled Gypsum Paperboard, and Concrete, Sand and Aggregates from more than 75 facilities across the US. Eagle’s corporate headquarters is in Dallas, Texas. Prior to the dividend suspension announced in 2020 the company had been paying quarterly dividends every year since 2004.