Steel Dynamics, Inc.’s Board of Directors has declared the company's first quarterly cash dividend.

"Initiating a cash dividend demonstrates the confidence that the Board of Directors and management have in Steel Dynamics' long-term growth opportunities and financial strength. We are pleased to be able to return profits to our shareholders, while at the same time maintaining our emphasis on long-term growth and meeting our anticipated capital requirements," said Keith E. Busse, President and CEO.

The dividend of $0.075 (seven and one-half cents) per common share is payable August 13, 2004 to shareholders of record at the close of business on July 26, 2004.

Founded in 1993, Steel Dynamics is a leader in the domestic steel industry. The company owns and operates three steelmaking mini-mills and manufactures a wide array of steel products including flat rolled products, such as hot rolled, cold rolled and coated steels; structural products, such as wide-flange beams and h-piling; and bar products, such as special-bar-quality, merchant shapes and rebar.