Steel Dynamics authorized an additional $3 billion for share repurchases and declared a $0.53 quarterly dividend, expanding its shareholder-return capacity while leaving the timing and scale of any purchases to the company. The steelmaker announced the board’s decisions Nov. 9.
The new authorization is effective immediately and adds to a $1.5 billion program approved in February 2025. Steel Dynamics’ Form 10-Q put the remaining capacity under that earlier program at $215.9 million as of Sept. 30; the company’s announcement rounded the figure to $216 million.
The authorization sets no minimum number of shares for Steel Dynamics to buy. The company says it will decide whether and when to repurchase shares based on considerations including its stock price, potential investments, expected cash generation and economic conditions. It may make purchases in public or private transactions and can change or end the program.
The dividend is for shareholders of record on Dec. 31, 2026, and is scheduled for payment on or about Jan. 8, 2027. The company’s Form 10-Q shows the quarterly rate rose from $0.50 in 2025 to $0.53 in the first quarter of 2026, an increase of 6%.
Steel Dynamics reported $1.422 billion in cash flow from operations during the first nine months of 2026. Over the same period, it repurchased $590.9 million in shares and paid $225.1 million in dividends. The filing also reported total liquidity of about $2.369 billion as of Sept. 30.
The company said it had repurchased $8.2 billion of stock, equal to 45% of its outstanding shares, and paid $2.2 billion in cash dividends since 2017 through Sept. 30, 2026. Steel Dynamics says the new authorization supports shareholder returns as it pursues growth, but it has not specified how future cash flow will be divided among repurchases, dividends and other uses.
