Materion Corporation (NYSE: MTRN) today reported that it has received a letter from GAMCO Asset Management Inc. expressing its intention to nominate two individuals to Materion’s Board of Directors at the 2014 Annual Meeting of Shareholders, which will be held on May 7, 2014. Materion issued the following statement in response: Materion values input from its shareholders and welcomes investors who believe in the potential of the Company. The Materion Board and management team are committed to the long-term growth of this Company and enhancing value for all shareholders. Additional Information In connection with its 2014 Annual Meeting of Shareholders, the Company will file a proxy statement and other documents regarding the 2014 Annual Meeting with the SEC and will mail the definitive proxy statement and a proxy card to each shareholder of record entitled to vote at the 2014 Annual Meeting. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The final proxy statement will be mailed to shareholders. Investors and security holders will be able to obtain the documents free of charge at the SEC’s website, www.sec.gov, from Materion at its website, www.materion.com, or 6070 Parkland Boulevard, Mayfield Heights, Ohio 44124, Attention: Corporate Secretary. Participants in Solicitation The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the 2014 Annual Meeting. Information concerning the Company’s participants is set forth in its proxy statement, dated March 26, 2013, for its 2013 Annual Meeting of Shareholders as filed with the SEC on Schedule 14A. Additional information regarding the interests of participants of the Company in the solicitation of proxies in respect of the 2014 Annual Meeting of Shareholders and other relevant materials will be filed with the SEC when they become available.
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.