Titan America SA

Titan America SA declared a quarterly dividend of $0.04 per share. The forward yield is 0.91%. The dividend is payable on October 9 to shareholders of record as of October 1, with an ex-dividend date of October 1.

A bullish thesis on Titan America SA highlights the Keystone Cement acquisition as a central catalyst for significant earnings growth. Titan America, a vertically integrated cement and building materials producer with dominant positions in Florida, the Mid-Atlantic, and Metro New York, generated 2025 EBITDA of $390 million on $1.66 billion of revenue. The company acquired Keystone Cement for $310 million, with the asset currently operating at roughly 53% utilization and about 10% EBITDA margins, implying approximately $9.7 million of EBITDA. Management excludes Keystone from guidance, but as utilization rises toward 90% and margins converge to Titan's 23% network level, Keystone EBITDA could roughly triple to around $31 million, driving meaningful accretion by 2028. Titan America trades near 8x EBITDA and could see material rerating from margin expansion and capacity optimization.