Benzinga | Jul 6, 2021 04:31PM EDT

Steel Dynamics Announces Additional $1B Buyback

Steel Dynamics, Inc. (NASDAQ:STLD) today announced that the company's board of directors authorized an additional share repurchase program of up to $1.0 billion of the company's common stock. The authorization is effective immediately and is additive to the previous $500 million program, which had $51 million remaining authorized and available for repurchase at June 30, 2021. Since 2016, the company has repurchased $1.6 billion of its common stock, representing 19% of its outstanding shares, and has paid cash dividends of over $950 million through June 30, 2021.