Materion Microelectronics & Services, a Materion Corporation (NYSE:MTRN) business, was presented with the “Partner of the Year Award” by International Rectifier (IR ®), a world leader in power management technology. The award recognized Materion’s achievements in the category of fab materials as a supplier of high-quality, cost-effective wafer fabrication materials to IR locations in Temecula, California, Newport, Wales and Singapore. The plaque was presented at International Rectifier’s “2013 Supplier Summit” in Los Angeles and accepted on behalf of Materion by Scott Haluska, Vice President, Global Sales, Derrick Brown, Vice President, Marketing & Commercial Development and Kelli Rivers, Strategic Account Manager. The Award recognizes Materion for achieving the highest supplier rating of “Preferred” in 2013 and for consistently driving low-cost, high-quality manufacturing that resulted in competitive total cost of ownership for International Rectifier. Also cited was Materion’s willingness to expedite production of sputtering targets to support increased production levels at IR. “We are honored to be named ‘Partner of the Year’ by IR and look forward to furthering our working relationship,” commented Haluska. “Materion is focused on providing International Rectifier the best world class solutions.” Microelectronics & Services is a Materion Corporation business. 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 metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. International Rectifier (NYSE:IRF) is a world leader in power management technology. IR’s analog and mixed signal ICs, advanced circuit devices, integrated power systems and components enable high performance computing and reduce energy waste from motors, the world’s single largest consumer of electricity. Leading manufacturers of computers, energy efficient appliances, lighting, automobiles, satellites, aircraft and defense systems rely on IR’s power management benchmarks to power their next generation products.
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.