Materion Corporation (NYSE:MTRN) announced today the appointment of Robert B. Toth, age 52, to serve on its Board of Directors. Mr. Toth is Chairman, President and Chief Executive Officer of Polypore International, Inc., a leading worldwide developer, manufacturer and marketer of highly specialized polymer-based membranes used in separation and filtration processes. Polypore International is based in Charlotte, North Carolina and its common stock is traded on the New York Stock Exchange under the symbol "PPO". He became President and CEO of Polypore International, and a member of the Board of Directors in 2005, after having served in the same role for four years at CP Kelco ApS, a leading global manufacturer of hydrocolloids. He was named Chairman of the Polypore board in 2011. Prior to joining CP Kelco, Mr. Toth progressed through a number of sales, marketing and executive management positions over a 19-year career at Monsanto and its chemical company spinoff, Solutia Inc. He earned a bachelor's degree in Industrial Management from Purdue University, and an MBA from the John M. Olin School of Business at Washington University in St. Louis, Missouri. Commenting on the appointment of Mr. Toth to the Board of Directors, Richard J. Hipple, Chairman, President and Chief Executive Officer of Materion Corporation, stated, "Bob is an excellent addition to our Board. His extensive experience leading global advanced materials companies serving some of the same high technology markets as Materion will provide us with valuable insight and perspective as we continue to execute on our growth strategies." Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.
Looking at the universe of stocks we cover at Dividend Channel, on 2/17/15, Materion Corp will trade ex-dividend, for its quarterly dividend of $0.085, payable on 3/3/15. As a percentage of MTRN's recent stock price of $37.16, this dividend works out to approximately 0.23%.
Shareholders of Materion Corp looking to boost their income beyond the stock's 0.9% annualized dividend yield can sell the June 2015 covered call at the $40 strike and collect the premium based on the $1.40 bid, which annualizes to an additional 8.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 9.3% annualized rate in the scenario where the stock is not called away. Any upside above $40 would be lost if the stock rises there and is called away, but MTRN shares would have to climb 11.2% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 15.1% return from this trading level, in addition to any dividends collected before the stock was called.
In trading on Friday, shares of Materion Corp crossed below their 200 day moving average of $34.17, changing hands as low as $34.10 per share. Materion Corp shares are currently trading off about 1.6% on the day.