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FOOTHILL RANCH, Calif., Jan. 14, 2013 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (Nasdaq:KALU) today announced that its Board of Directors has declared a quarterly cash dividend payment of $0.30 per share on the Company's outstanding common stock, representing a 20% increase over the prior quarter's dividend. The dividend will be payable on February 15, 2013 to shareholders of record as of the close of business on January 25, 2013.
Kaiser Aluminum has paid a quarterly dividend since 2007 and has increased its dividend approximately 67% during this period. The Company has returned more than $170 million of cash to shareholders in the past six years through quarterly dividends and share repurchases while continuing to invest more than $400 million in organic and acquisition growth initiatives.
"The Board's decision to authorize an increase in our quarterly dividend reflects our confidence in a sustainable improvement in performance, a strong long-term outlook, and the financial strength to support demand growth in our end market segments," said Jack A. Hockema, President, CEO and Chairman. "In addition to underlying demand growth, we remain optimistic that we will continue to benefit from attractive, value-creating growth opportunities through organic investments and acquisitions that will further drive long-term earnings potential," stated Mr. Hockema.
Kaiser Aluminum Corporation, headquartered in Foothill Ranch, Calif., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company's North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that have been key components of our culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000® index and the S&P Small Cap 600® index.