Spotlight Weekly – Spotlight Weekly – Fear of bank failures
Steel Dynamics (Nasdaq: STLD), our circular economy copper recycler, announced another cash dividend of $0.42 per share:
Steel Dynamics is one of our original recommendations from our “How to Capitalize on the Sustainability Movement” special report.
We’ll see that in our account on March 30, 2023. This is our second dividend since we bought it. What’s significant is the March dividend is 25% higher than our December dividend. That’s a huge leap in dividends per share.
We are still positive in our Steel Dynamics position, but it is well down from it’s recent high of $136 per share. The stock began trading lower in early March, and the recent banking scare clobbered it – along with most of our portfolio.
I believe this is a temporary situation. However, we will begin looking at exits for some of our positions over the next week if things don’t begin to look up.
But Steel Dynamics huge increase in its dividend is a signal that the business is good. That’s one bright spot in today’s market!