Howmet Aerospace hikes dividend by 25% to $0.05 quarterly per share

On September 28, 2023, Howmet Aerospace (HWM), formerly known as Arconic and Alcoa, hiked the dividend by 25% to $0.05 quarterly per share. This follows a dividend hike of 100% announced by HWM in 2022. The dividend yield is 0.4% at a stock price of $46.25.

The Board of Directors of Howmet Aerospace declared a quarterly dividend of 5 cents per share on the outstanding Common Stock of the Company, to be paid on November 27, 2023, to the holders of record of the Common Stock at the close of business on November 10, 2023. The quarterly dividend represents a 25% increase from the third quarter 2023 dividend of 4 cents per share. The next ex-dividend date is November 8, 2023.

Howmet Aerospace, formerly Arconic Inc., is a manufacturer of aluminum, titanium, and nickel used in aerospace, automotive, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications. Howmet generates most of its sales in the United States and Europe generated and also has operating activities in Brazil, Canada, China, Japan, and Russia, among others. The company's operations consist of three worldwide reportable segments: Engineered Products and Solutions, Global Rolled Products and Transportation and Construction Solutions. Howmet and previously Arconic Inc. are the successors to Arconic Pennsylvania which was formed in 1888 and formerly known as Alcoa Inc. On April 1, 2020, the company completed the separation of Arconic Inc. into two standalone companies – Howmet Aerospace Inc. and Arconic Corp.