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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): | February 22, 2021 |
MUELLER INDUSTRIES INC.
(Exact name of registrant as specified in its charter)
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Delaware | 1-6770 | 25-0790410 |
(State or other jurisdiction | (Commission File | (IRS Employer |
of incorporation) | Number) | Identification No.) |
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150 Schilling Boulevard | Suite 100 | |
Collierville | Tennessee | 38017 |
(Address of principal executive offices) | (Zip Code) |
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Registrant’s telephone number, including area code: | (901) | 753-3200 |
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Registrant’s Former Name or Address, if changed since last report: | N/A |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol | Name of exchange on which registered |
Common Stock | MLI | NYSE |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new of revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On February 22, 2021 the Registrant issued a press release announcing that its Board has declared a regular quarterly cash dividend of 13 cents per share on its common stock. The dividend will be payable April 2, 2021 to shareholders of record on March 19, 2021. A copy of the press release announcing the payment and record dates is attached as Exhibit 99.1.
In addition, the Board also authorized the full redemption of the Company’s Subordinated Debentures due 2027 pursuant to the terms of the underlying indenture. The Company expects to issue a notice of full redemption to the holders of the Debentures on or about February 25, 2021.
The redemption of the Debentures, which incur a 6% annual interest rate, will be funded with cash on hand and draws on the Company’s revolving credit facility, currently with an interest rate of 1.5%. In 2020, the Company paid $17 million in interest related to the outstanding Debentures.
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Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
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| 99.1 | Press release dated February 22, 2021 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
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| MUELLER INDUSTRIES, INC. |
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| By: | /s/ ANTHONY J. STEINRIEDE | |
| Name: | Anthony J. Steinriede |
| Title: | Vice President - Corporate Controller |
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Date: February 22, 2021 | | |
Exhibit Index
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Exhibit No. | Description |
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99.1 | |