SunCoke Extends Credit, Acquires Phoenix Global After Weak Quarterly Results

SunCoke Energy, Inc. (NYSE:SXC) is one of the 14 Best Cheap Dividend Stocks to Buy Under $10.

Amid a negative second quarter, the company acquires Phoenix Global, extends a revolving credit facility, and declares a dividend payable.

Illinois-based company, SunCoke Energy, Inc. (NYSE:SXC), is engaged in the business of raw material processing and handling. In the U.S., it is the largest independent producer of high-quality metallurgical coke – a key component for blast furnace steel production. The company uses a heat-recovery coke-making technology and relies on an extensive logistics network to serve its customers.

In its second quarter earnings report, released on July 30, 2025, it reported a revenue of $434.1 million, down 7.8% compared to the same quarter in 2024. Net income was also down by 91%. On the other hand, in the earnings call, the company announced the acquisition of Phoenix Global for $325 million. On August 1, 2025, it completed the acquisition and anticipates an increase in value through expansion in its operations, including electric arc furnace capabilities and international markets.

SunCoke Energy, Inc. (NYSE:SXC) also reported extending its revolving credit facility to July 2030, maintaining similar covenants to the previous agreement. Additionally, it has also declared a $0.12 per share dividend payable to its existing shareholders on September 2, 2025.

SunCoke Energy, Inc. (NYSE:SXC) trades at $7.59 as of August 28, 2025, and promises a 6.32% dividend yield, making it attractive for income-based investors.

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