TORONTO — Russel metals Inc. announced  its second quarter 2014 earnings of $31 million or $0.50 per share on revenues of $893 million reflecting strong operating margins in all segments. These numbers are significantly greater than the same quarter of 2013.

Revenues in the metals service center segment increased 11% to $419 million in the second quarter of 2014 compared to the 2013 second quarter due to stronger demand and higher steel prices.

Revenues in our steel distributors segment increased by 63% to $106 million in the 2014 second quarter compared to the 2013 second quarter due to stronger demand and higher pricing.

Revenue rose to $893.3 million from $758.1 million, which also includes Russel metals energy products segment.

The dividend, which is being increased to 38 cents per share from 35 cents, will be payable Sept. 15 to shareholders of record at the close of business on Aug. 26.

Our revenues, gross margins and operating profits improved in all three of our business segments versus last year, president and CEO Brian Hedges said in a statement.

Besides benefiting from strengthening economies in the United States and Western Canada, investments over the last three years in acquisitions, process improvements, new facilities and processing equipment have allowed the company to strengthen and to grow its market share, Hedges said.

On the Toronto Stock Exchange, Russel metals shares closed down 23 cents at $35.39 on Tuesday.

For more information, visit www.russelmetals.com.