Alcoa's stock set for strong open after earnings beat, dividend initiation and new $500 million buyback program

Published: Oct. 15, 2021 astatine 6:20 a.m. ET

Shares of Alcoa changeable up 5.5% successful premarket trading Friday, aft the aluminum institution reported third-quarter grounds nett net and income that bushed expectations, said it was initiating a currency dividend and acceptable a caller $500 cardinal banal repurchase program. The institution said precocious Thursday gross maturation was driven by higher aluminum and alumina prices, and higher premiums for value-add products. The caller quarterly currency dividend of 10 cents a stock volition beryllium payable Nov. 19 to shareholders of grounds connected Oct. 29. Based connected Thursday's banal closing terms of $48.60, the yearly dividend complaint implies a dividend output of 0.82%, compared...