CRH Declares $0.35 Per Share Quarterly Dividend, Yielding 1.74%

CRH plc announces a quarterly dividend of $0.35 per share, payable on June 26, 2024, to shareholders of record as of May 24, 2024. The company reports robust growth for Q1 2024 and maintains its 2024 guidance, driven by strategic acquisitions and a commitment to sustainability.

author-image
Bijay Laxmi
New Update
CRH Declares $0.35 Per Share Quarterly Dividend, Yielding 1.74%

CRH Declares $0.35 Per Share Quarterly Dividend, Yielding 1.74%

CRH plc (CRH.US), a leading global building materials group, has announced a quarterly dividend of $0.35 per share, payable on June 26, 2024, to shareholders of record as of May 24, 2024. The go, may 23, 2024. This dividend declaration represents a forward yield of 1.74% for shareholders.

Why this matters: This dividend declaration and CRH's strong financial performance have implications for the global construction industry, as it indicates a positive outlook for the sector. Additionally, CRH's commitment to sustainable practices and reducing emissions may influence industry standards and inspire other companies to follow suit.

The announcement comes on the heels of CRH'scall, reports, robust, growthfor the first quarter of 2024. The company has maintained a robust balance sheet despite substantial outflows due to acquisitions and continues to prioritize shareholder returns through dividends and share repurchases.

CRH has been actively pursuing strategic growth opportunities through mergers and acquisitions. The company recently completed the acquisition of cement and ready-mixed concrete assets in Texas and a materials business in Northern California. Additionally, CRH is in the process of acquiring a majority stake in Adbri, an Australian building materials provider.

Alongside its financial performance and growth initiatives, CRH remains committed to sustainable practices. The company has set ambitious targets to reduce emissions by 30% by 2030 and achieve net-zero emissions by 2050. CRH's focus on circularity and recycling, particularly as the largest recycler in the United States, underscores its dedication to environmental stewardship.

Commenting on the company's performance, CRH Group Chief Executive Albert Manifold stated, "Overall, it's been a good start to the year in what is the seasonally least significant quarter for our business." call, reports, robust, growth

Looking ahead, CRH anticipates delivering another strong year of performance. The company expects its full-year group adjusted EBITDA to be between 6.55 billion and 6.85 billion, assuming normal seasonal weather patterns and no major disruptions in the macroeconomic environment. CRH's next quarterly results are expected in August 2024.