Mueller Industries, Inc. Declares Special Dividend on Common Stock, Payable by Mid-March, 2017
January 04, 2017 at 07:00 am
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Mueller Industries, Inc. announced that the Board of Directors has authorized a special dividend on its common stock. The special dividend will consist of $3.00 in cash and $5.00 in principal amount of the company's 6% Subordinated Debentures due 2027 for each share of common stock. The authorization of the special dividend is subject to the qualification of the indenture under which the Debentures will be issued under the Trust Indenture Act. The company expects special dividend will be paid by mid-March, 2017.
Mueller Industries, Inc. is a manufacturer of copper, brass, aluminum and plastic products. Its products include copper tube and fittings; line sets; steel nipples; brass rod, bar and shapes; aluminum and brass forgings; aluminum impact extrusions; compressed gas valves; refrigeration valves and fittings; pressure vessels; coaxial heat exchangers and insulated flexible duct systems. It also resells brass and plastic plumbing valves, plastic fittings, malleable iron fittings, faucets, and plumbing specialty products. The Company has three segments. Piping Systems segment is composed of Domestic Piping Systems Group, Great Lakes Copper, European Operations, Trading Group, Jungwoo Metal Ind. Co., LTD and Mueller Middle East WLL. Industrial Metals segment is composed of Brass Rod, Impacts & Micro Gauge, Brass Value-Added Products, and Precision Tube. Climate segment is composed of Refrigeration Products, Westermeyer Industries, Inc., Turbotec Products, Inc., Flex Duct and Linesets, Inc.
MUELLER INDUSTRIES, INC. 
