Arcosa, Inc. Declares Quarterly Dividend and Renews $50 Million Share Repurchase Authorization

Rhea-AI Summary

Arcosa, Inc. (NYSE: ACA) has declared a quarterly cash dividend of $0.05 per share, payable on January 29, 2021, to stockholders on record as of January 15, 2021. The Company also renewed its $50 million share repurchase program, effective January 1, 2021, providing flexibility to repurchase shares based on market conditions. Additionally, Arcosa has filed a universal shelf registration statement allowing potential future offerings of securities over the next three years, although there are no immediate plans for such offerings.

Positive

• Declaration of a quarterly cash dividend of $0.05 per share, enhancing shareholder returns.
• Renewal of the $50 million share repurchase program, which may support stock price.
• Filing of a universal shelf registration statement provides flexibility for future capital raising.

Negative

• None.

DALLAS--(BUSINESS WIRE)--Arcosa, Inc. (NYSE: ACA) (“Arcosa” or the “Company”), a provider of infrastructure-related products and solutions, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.05 per share on its $0.01 par value common stock. The quarterly cash dividend is payable January 29, 2021 to stockholders of record as of January 15, 2021.

The Company also renewed its $50 million share repurchase program, effective January 1, 2021 through December 31, 2022, replacing the current share repurchase program of the same amount that will expire on December 31, 2020. Shares may be repurchased in the open market or through private transactions at times and amounts determined by the Company based on its evaluation of market conditions and other factors.

As a matter of standard corporate governance to provide flexibility to access the public capital markets when and if needed, the Company has also today filed its inaugural universal shelf registration statement on Form S-3 with the United States Securities and Exchange Commission. While the Company has no immediate plans to offer or sell any securities under this shelf registration statement, the statement permits the Company to offer and sell, from time to time over the next three years, a variety of its securities, which may consist of common stock, preferred stock, depositary shares, warrants, or debt securities.

The terms of any such offerings under the shelf registration statement will be determined at the time of the offering and will be described in detail in a prospectus supplement filed in connection with such offering. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of any securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to any registration or qualification under the securities laws of such jurisdiction. Any offer of securities covered by the registration statement may be made solely by means of the written prospectus included in the registration statement and an accompanying prospectus supplement.

About Arcosa
Arcosa, Inc. (NYSE: ACA), headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading positions in construction, energy, and transportation markets. Arcosa reports its financial results in three principal business segments: the Construction Products Group, the Energy Equipment Group, and the Transportation Products Group. For more information, visit www.arcosa.com.