Nucor Raises Dividend, Approves Buyback of Up to $4 Billion

Nucor Corp. is raising its quarterly dividend to 50 cents a share, and has approved buying up to $4 billion of stock.

The $4 billion authorization replaces a previous $3 billion authorization under which about $2.33 billion had been used through Dec. 1, the company said.

The new share repurchase authorization has no expiration date.

The new dividend would be paid on Feb. 11 to stockholders of record on Dec. 31.