Suncoke Energy (SXC) Proposes 100% Dividend Hike

Suncoke Energy (NYSE: SXC) announced that management intends to recommend to the Board of Directors to increase its quarterly cash dividend to $0.15 per share of common stock, a 100 percent increase over the previous quarterly rate. This represents a cash dividend of $0.60 per share of common stock on an annualized basis. The proposed increase in the dividend reflects the Company’s strategy to distribute a significant portion of its free cash flow and reflects the stability of its business model and is based on cash flows from existing assets.

“This is the next step in our transformation into a pure-play general partner. Going forward, once all cokemaking assets are dropped into SunCoke Energy Partners, L.P. (NYSE: SXCP), the Company expects that its primary capital allocation strategy will be to distribute 80 percent to 90 percent of free cash flow. This strategy reflects our commitment to returning capital to shareholders, as well as the stability of our business model and cash flows,” said Fritz Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc.

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