NACCO Industries Inc. (NYSE: NC) declared a regular quarterly cash dividend of 25.25 cents per share, payable December 15 2025 to shareholders of record on December 1 2025. The dividend is the sixth consecutive increase and the 55th year of quarterly payments, underscoring the company’s long‑standing commitment to returning value to investors.
The board also approved a new share‑repurchase program that authorizes up to $20 million of Class A common stock to be bought back through December 31 2027. The program replaces a prior plan that expired at the end of 2025 and under which the company had already repurchased more than $12 million. By extending the program, NACCO gives management flexibility to opportunistically reduce the share count while preserving a conservative balance sheet—its current ratio stands at 3.06 and its debt‑to‑equity ratio at 0.21.
NACCO’s Q3 2025 results provide context for the dividend and repurchase decision. Revenue rose 24 % to $76.6 million, driven by strong performance in the Contract Mining and Minerals & Royalties segments, while gross profit climbed 38 %. Net income fell to $13.3 million from $15.6 million in Q3 2024, and EPS dropped to $1.78 from $2.14, largely because the one‑time $13.6 million insurance recovery that boosted Q3 2024 earnings was absent. Despite the profit decline, operating profit improved, and the company expects Q4 2025 operating profit to be comparable to the prior year. NACCO’s long‑term strategy targets $150 million in annual EBITDA within 5–7 years, driven by contract‑mining expansion and operational efficiencies.
J.C. Butler, President and CEO, said the company will continue to purchase shares opportunistically “as we balance repurchases with other capital needs and our desire to maintain a conservative balance sheet.” He added that maintaining a repurchase program reflects confidence in the company’s long‑term business prospects and is in the best interest of shareholders. The dividend and buyback program, coupled with the company’s solid cash‑flow generation and disciplined capital allocation, signal management’s confidence in sustaining shareholder returns while pursuing growth in its core mining and minerals businesses.
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