Steel Dynamics Inc., a producer of flat-rolled steel products for the auto, appliance and industrial machinery markets, said Monday it approved the continuation of a special cash dividend of 10 cents per share and raised its quarterly dividend by 10 cents to 20 cents.

The company will pay the combined dividend, totaling 30 cents per share, on Oct. 10 to shareholders of record Sept. 29. The increased dividend will continue for the rest of 2006.

Steel Dynamics shares rose $2.57, or 5.1 percent, to $53.50 in afternoon trading Monday on the Nasdaq. They have ranged between $26.63 and $69.95 over the past year.