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Warrior Met Coal announces special dividend payout



 

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BROOKWOOD, Ala. – Warrior Met Coal, Inc. (NYSE:HCC), a prominent supplier to the global steel industry, has declared a special cash dividend of $0.50 per share. The dividend is scheduled for payment on March 7, 2024, to shareholders who are recorded by the end of business on March 1, 2024.

The company, known for its focus on mining non-thermal metallurgical coal, is recognized for its environmentally and socially conscious practices. Warrior Met Coal’s dedication to producing high-grade metallurgical coal, essential for steel production, positions it as a key player in the industry. It caters to major steel manufacturers across Europe, South America, and Asia.

Operating out of Alabama, Warrior Met Coal is noted for its efficient longwall operations in underground mines. The coal produced, particularly from the Blue Creek coal seam, is characterized by low sulfur content and robust coking properties, aligning it with the premium hard coking coal found in Australia. This quality ensures Warrior’s product is highly sought after, often fetching prices close to the Platts Premium LV FOB Index price.

The information for this financial update is based on a press release statement from Warrior Met Coal.

InvestingPro Insights

Warrior Met Coal, Inc. (NYSE:HCC) has recently announced a special cash dividend, reflecting the company’s financial strength and commitment to shareholder returns. The dividend announcement is supported by key financial metrics and market performance data that offer deeper insights into the company’s valuation and profitability.

According to InvestingPro data, Warrior Met Coal boasts a market capitalization of $3.14 billion USD and an attractive price-to-earnings (P/E) ratio of 6.71 as of the last twelve months ending Q3 2023. This low P/E ratio suggests that the company’s stock could be undervalued relative to its earnings, making it a potentially compelling choice for value investors.

Moreover, the company’s strong free cash flow yield is highlighted as one of the InvestingPro Tips, indicating that Warrior Met Coal is generating a healthy amount of cash relative to its share price. This is a crucial factor for investors looking for companies with the financial flexibility to support dividends and invest in growth opportunities.

Another InvestingPro Tip points out that analysts predict Warrior Met Coal will be profitable this year. This forward-looking optimism is consistent with the company’s robust fundamentals, including a significant price uptick over the last six months of 49.42% and a high return on assets of 21.63% for the last twelve months as of Q3 2023.

For readers interested in a more comprehensive analysis, there are 9 additional InvestingPro Tips available, which can be accessed with an exclusive offer. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can find more in-depth financial data and investment insights.

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