(NYSE: NUE) is a Dividend King with 50 years' worth of annual dividend increases behind it. You don't put up a streak like that by accident. There's been a big focus on growth at this giant U.S. steel mill over the past five decades. Growth still plays a prominent role, but investors need to keep the broader economic backdrop today in mind as they assess Nucor. There's not much to worry about -- and here's why.

Nucor is one of the largest and most diversified steel makers in North America. It didn't start that way, of course. It built its industry position over time as it expanded its fleet of electric arc mini-mills. These steelmaking operations are more flexible than blast furnaces, an older technology that has huge operating costs even when steel demand is low. Electric arc mini-mills, to simplify things greatly, can be ramped up and down more easily with demand.

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Source Fool.com