Steel Dynamics adds $3.0 billion to share buyback program

Steel Dynamics (STLD) authorized an additional $3.0 billion for share repurchases, adding to a previous $1.5 billion program.

Shares were little changed at 3:14 p.m. ET.

The new authorization is effective immediately. The previous program had $216 million remaining as of Sept. 30, 2026.

Since 2017, the company has repurchased $8.2 billion of its common stock, representing 45% of its outstanding shares. It has paid cash dividends of $2.2 billion through Sept. 30, 2026.

Repurchases will be made as and when the company determines, in open-market or private transactions, including transactions under Rule 10b5-1 of the Securities Exchange Act of 1934. Purchases will depend on market price, other investment and growth opportunities, expected free cash flow and general economic conditions.

The program does not require the company to buy any specific number of shares. It may be modified, suspended, extended or terminated at any time without prior notice.

The board also declared a quarterly cash dividend of 53 cents per common share.

Shareholders of record at the close of business on Dec. 31, 2026 will receive the dividend on or about Jan. 8, 2027.