As aluminum prices rise, Alcoa, the largest aluminum producer in the United States,It rebounded strongly in 2021, and five years later it finally began to resume paying dividends to shareholders.
The company said on Thursday that it would pay a dividend of 10 cents a share on Nov. 19 to shareholders of record before the Oct. 29 close. It is the first dividend paid by Alcoa since it spun off its aircraft and auto parts businesses in 2016. The company also announced a $500 million share buyback program.
Alcoa's share price has nearly tripled from a year ago, driven by a historic surge in aluminum prices. Aluminium is used in a wide range of products from cars and MacBook to beer cans, and demand has been boosted by supply chain problems and global shortages caused by soaring demand.
