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[July 2004]
Alcoa's Income from Continuing Operations Rises 86%
Second quarter income from continuing operations for Alcoa was US$404 million, the highest level ever and up 86% from the second quarter of 2003 and up 15% over the first quarter 2004. Net income of US$759 million recorded for the first half of 2004 was also the highest in Alcoa's history.
In Q2 2004, sales grew to US$6.1 billion, the highest level since Q4 2000, up 7% sequentially and 11% year over year. Five of the six business segments showed double-digit increases in profitability year over year. Alumina & Chemicals were up 79% and Engineered Products increased 70%.
Revenue gains were recorded in every segment over the previous quarter.
On 9 July 2004, the Board declared (a) a quarterly common stock dividend of 15 cents per share payable 25 August 2004 to shareholders of record at close of business on 6 August 2004 and (b) a quarterly dividend of 93.75 cents on Alcoa's $3.75 cumulative preferred stock payable 1 October 2004 to shareholders of record at close of business on 10 September 2004. Alcoa has paid a quarterly dividend on its common stock for more than 60 years.
ENDS