Altra Industrial Motion Corp. Announces First Quarter 2023 Dividend

Rhea-AI Summary

Altra Industrial Motion Corp. (AIMC) has declared a quarterly cash dividend of $0.09 per share for Q1 2023, marking the forty-fourth consecutive dividend payment in its history. This dividend is set for payment on April 4, 2023, to shareholders on record by March 16, 2023. The decision to declare future dividends will depend on the Board's assessment of market conditions and capital availability, ensuring it's in shareholders' best interests. Altra, headquartered in Braintree, Massachusetts, has over 9,000 employees and operates 46 production facilities globally.

Positive

• Continuing dividend payments reflect company stability and commitment to shareholders.
• Dividend of $0.09 supports income for shareholders.

Negative

• None.

BRAINTREE, Mass., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Altra Industrial Motion Corp. (Nasdaq: AIMC), a leading global manufacturer and supplier of motion control, power transmission and automation products, today announced that its Board of Directors has approved the payment of a quarterly cash dividend of $0.09 per share for the first quarter of 2023. The first quarter 2023 dividend is the forty-fourth consecutive dividend in the Company’s history. The dividend will be paid on April 4, 2023 to shareholders of record as of the close of business on March 16, 2023. Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board's continuing determination that the declaration of dividends is in the best interests of Altra's shareholders and is in compliance with all laws and agreements of Altra applicable to the declaration and payment of cash dividends. Future dividends may be further adjusted at the Board’s discretion based on market conditions and capital availability.

About Altra Industrial Motion Corp.

Altra Industrial Motion Corp. is a premier industrial global manufacturer and supplier of highly engineered motion control, automation and power transmission systems and components. Altra's portfolio consists of 26 well-respected brands including Bauer Gear Motor, Boston Gear, Kollmorgen, Portescap, Stromag, Svendborg Brakes, TB Wood's, Thomson and Warner Electric. Headquartered in Braintree, Massachusetts, Altra has over 9,000 employees and 46 production facilities in 17 countries around the world.

All statements, other than statements of historical fact included in this release are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. Forward-looking statements can generally be identified by phrases such as “believes,” “expects,” “potential,” “continues,” “may,” “should,” “seeks,” “predicts,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “could,” “designed”, “should be,” and other similar expressions that denote expectations of future or conditional events rather than statements of fact. Forward-looking statements also may relate to strategies, plans and objectives for, and potential results of, future operations, financial results, financial condition, business prospects, growth strategy and liquidity, and are based upon financial data, market assumptions and management's current business plans and beliefs or current estimates of future results or trends available only as of the time the statements are made, which may become out of date or incomplete. Forward looking statements are inherently uncertain, and investors must recognize that events could differ significantly from our expectations. These statements include, but may not be limited to, the payment and maintenance of a quarterly dividend.

AIMC-G

Contacts:
Altra Investor Relations                                                                
781-917-0600                                                                 
Email: ir@altramotion.com

FAQ

What is the AIMC dividend amount for Q1 2023?

Altra Industrial Motion Corp. has declared a dividend of $0.09 per share for Q1 2023.

When will the AIMC dividend be paid?

The dividend will be paid on April 4, 2023.

What is the record date for the AIMC dividend?

The record date for the dividend is March 16, 2023.

How many consecutive dividends has AIMC paid?

AIMC has paid 44 consecutive dividends.

Are future AIMC dividends guaranteed?

Future dividends are subject to approval by the Board of Directors and may be adjusted based on market conditions.