Alcoa Corporation (ASX:AAI) Schedules November Dividend Alongside Third-Quarter Earnings Update

Aditi Sarkar

22 October 2026 11:02 PM AEDT

Alcoa Corporation (ASX:AAI) Schedules November Dividend Alongside Third-Quarter Earnings Update

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Highlights

Alcoa declared a quarterly cash dividend of US$0.10 per common share, payable on 13 November 2026.
The company set 27 October as its shareholder record date for the November cash distribution.
Third-quarter net income attributable to Alcoa rose to US$483 million from US$407 million in the preceding quarter.
Alcoa generated US$643 million in operating cash flow and US$472 million in free cash flow during the quarter.

Alcoa Corporation (ASX:AAI) has paired its latest quarterly dividend declaration with a third-quarter earnings report showing stronger attributable net income and substantial cash generation. The aluminium producer announced a US$0.10-per-common-share cash dividend for November 2026 as it continued work on operational improvements and a proposed acquisition. The payment arrives against a backdrop of increased aluminium production and progress on the company’s strategic priorities.

November Distribution Has a Defined Timetable

Alcoa’s board declared the quarterly cash dividend on 15 October 2026. The company set 27 October as the record date for holders of its common stock and 13 November as the scheduled payment date. For its Australian-listed securities, the dividend table identifies 26 October as the ex-dividend date and shows an amount of $0.101, with 0% franking. That table amount should not be confused with the company’s US$0.10 common-stock declaration: they are separately stated figures, and the distribution details does not identify the currency of its $0.101 amount. The indicated yield is 0.17%.

Earnings and Cash Flow Provide the Wider Picture

For the third quarter of 2026, Alcoa reported revenue of US$3.704 billion, compared with US$3.966 billion in the second quarter and US$2.995 billion a year earlier. Net income attributable to the company increased to US$483 million, or US$1.81 per common share, from US$407 million, or US$1.53 per share, in the preceding quarter. Adjusted net income attributable to Alcoa reached US$485 million, while adjusted EBITDA excluding special items totalled US$789 million. Cash generated from operations was US$643 million, with free cash flow of US$472 million. These results provide operating and financial context for the separately announced dividend decision.

Smelting Progress and a Major Transaction

Operationally, Alcoa increased aluminium production for the sixth consecutive quarter and reported year-to-date production records at five smelters and one refinery. It also completed the restart of its Alumar smelter in Brazil. Alongside these developments, the company continued progressing its proposed acquisition of South32’s interests in certain bauxite, alumina and aluminium assets, collectively referred to as AliGroup. South32 shareholders approved the transaction on 15 October 2026, while Alcoa continued regulatory approval and integration planning. The proposed deal remained on track for completion in the first half of 2027, subject to the necessary steps.

Fourth-Quarter Priorities Remain in Focus

Alcoa said it expected to maintain strong operational performance in the fourth quarter, with higher production and shipments anticipated in both its Alumina and Aluminum segments. Its outlook also identified planned maintenance and raw material cost pressures affecting segment earnings. The company finished the third quarter with US$4.4 billion in cash, including financing raised for the proposed AliGroup acquisition. The declared dividend has a fixed November payment schedule; operational forecasts and transaction completion remain forward-looking and subject to the qualifications set out by the company.

FAQs

Q: When is Alcoa’s November 2026 dividend payable?

A: The company scheduled payment for 13 November 2026.

Q: How much did Alcoa declare?

A: Alcoa declared US$0.10 per common share; the ASX security amount is $0.101.

Q: What did Alcoa report for third-quarter net income?

A: Net income attributable to Alcoa was US$483 million.

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